10x Research: Bitcoin's bear market bottom window is approaching

Odaily reported that 10x Research released its latest market report, stating that Bitcoin traders have long misread indicators of "global money supply" and "global liquidity," while the movement of the US dollar is one of the key factors affecting Bitcoin's price.

10x Research points out that the US dollar is currently strengthening from multiple dimensions, and historical evidence shows that a strengthening dollar is generally unfavorable for Bitcoin. Its dollar model has triggered sell signals only six times since 2011, with the last occurrence in November 2025, followed by months of continuous decline in Bitcoin prices.

The report also indicates that the global liquidity indicator, widely circulated within the crypto community last year, was used incorrectly by the market. According to its research framework, this indicator issued a buy signal in early March this year and an exit signal at the end of April. The team has also projected the next potential time window for a trigger.

10x Research stated that the report, combining the US dollar trend, global liquidity, and other macro drivers, analyzes the potential time frame and value range for the bottom of this bear market. It believes that the time window corresponding to Bitcoin's cycle bottom is gradually approaching.