SERM's cause increased LH/FSH levels, secondarily TT, FT and E2 increase and maybe SHBG.
Estrogen levels do not decrease!
If SERM dose is too high, causing high LH/FSH, FT-->E2 inside the testes can be very high and serum E2 can be very high.
So dump most of those details, you could edit them out of your post too.
Lowering E2 reverses/prevents gyno.
We see some guys where SERMs seem ineffective with gyno.
FT/bio_T and estrogens have a large effect on libido. SERMs do not have any major direct effects, however some guys get bad estrogenic side effects from Clomid.
When someone takes a SERM, estrogens increase and the liver will naturally increase SHBG production. How those with idiopathic low SHBG react is not well understood. And low SHBG can sometimes be pointing to diabetes.
When you read these things, you need to be selective about what applies. Clinical data for post menopausal female cancer patients and research normals really should be intensely filtered. And data from males needs to be filtered for dosing which is often too high. Is the intent to block all estrogenic effects possible or modulate estrogenic effects to shift the male HPTA.