Bitcoin recently dropped from over $65,000 to around $62,200. According to 10x Research, this decline reflects a typical correction in an overbought bull market. Founder Markus Thielen noted that short-term signals turned bearish, predicting a possible further drop in the coming days. However, Thielen remains optimistic about Q4 due to expected Federal Reserve rate cuts and China’s large-scale stimulus measures. The upcoming ISM manufacturing data could further influence BTC prices. The Federal Reserve's action plan may be clarified as Chairman Powell is set to speak on economic matters at the National Association for Business Economics meeting.