10x Research: BTC may resume its upward momentum after the market digests higher bond yields

10x Research stated in a report: "We believe the market needs time to digest higher bond yields before Bitcoin can recover its upward trend, rather than being overly pessimistic." They emphasized that although the financing rates of Bitcoin and Ethereum have risen to 10%, the spot prices have fallen behind and retail participation remains low. "We hope to see multiple indicators consistent to confirm the bullish trend, but this is not a major issue. The market may only need a few days to absorb these factors." In addition, the total inflow of stablecoins is the main driving force of liquidity this year. 10x Research pointed out: "Since the launch of the Bitcoin spot ETF, stablecoin inflows have reached $36 billion and liquidity remains strong." And emphasized that these inflows continue to exert upward pressure on Bitcoin prices. (Decrypt)