10X Research wrote on the X platform, "Bitcoin is not a lack of buyers, but a lack of admission. If we can judge the long-short position by only one data indicator, we will not choose market sentiment, global liquidity, inventory-to-flow ratio (S2F) or other popular but low signal strength frameworks.
We will focus on the 30-day Bitcoin inflow indicator - which is once again clear: despite expectations of interest rate cuts and speculation that the Federal Reserve Chair will take a dovish stance in 2026, the current market does not have the basis for structural long, other than a short-term tactical rally.
This indicator has only seen three major peaks, and selling at each peak has significantly outperformed any narrative-based trading strategy.
The lack of sustained inflows also explains why there has not been a real round of counterfeit products: the top pools lack enough incremental capital to generate downward transmission flows. Only when the indicator bottoms out will the next sustainable bull market phase begin; until then, all rallies have been tactical rather than trend turns. "
10X Research: In addition to a short-term tactical rebound, the current market does not have the basis for structural long-term growth
2025-12-06 01:14:22
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
10x Research：当前市场除短期战术性反弹外，并不具备结构性做多的基础Next article：
Suilend：mSEND的申领窗口期将于12月12日下午2:00关闭
