Bitcoin Market Needs Time To Digest Higher Bond Yields, Says 10x Research

According to Odaily, 10x Research has indicated in a recent report that the market requires time to absorb higher bond yields before Bitcoin can resume its upward trend, urging against excessive pessimism. The report highlights that despite Bitcoin and Ethereum financing rates rising to 10%, spot prices have lagged, and retail participation remains subdued. The firm notes, 'We hope to see multiple indicators align to confirm bullish momentum, but this is not a major issue. The market may only need a few days to absorb these factors.' Additionally, the total inflow of stablecoins has been a primary driver of liquidity this year. 10x Research points out, 'Since the launch of the Bitcoin spot ETF, stablecoin inflows have reached $36 billion, and liquidity remains robust.' The report emphasizes that these inflows continue to exert upward pressure on Bitcoin prices.