Bitcoin may experience a brief rebound, but the risk of falling to $50,000 by the end of the year remains.

According to news from Hashchain, CNBC reported that this week the selling pressure in the crypto market mainly comes from the sell-off of Bitcoin spot ETFs and a wave of forced liquidations triggered by a sharp price drop. Additionally, the software stocks being sold off further exacerbated market volatility. However, some investors entered the market to buy, resulting in a rapid price surge in a short period. Currently, most market participants remain cautious about whether the bottom has been reached. Crypto research institution 10X Research indicates that Bitcoin may see a brief counter-trend rebound or consolidation next, but it may still hit new lows this summer. The institution's research director, Markus Thielen, estimates that Bitcoin could potentially drop to a minimum of $50,000, or even fall within the range of $40,000 to $50,000.