10x Research: On-chain fund flows and position changes may be driving the next round of price volatility in Bitcoin.

According to Mars Finance, 10x Research published an analysis on its X platform pointing out that Bitcoin's price has been slowly rising recently, and unusual changes are occurring in on-chain and derivatives market fund flows. Over the past week, funding rates, capital flows, and several key risk indicators have all shown significant adjustments, indicating that current market movements are more driven by position structure and market positioning. 10x Research believes that while the market is sometimes dominated by fundamentals, technicals, or macroeconomic factors, systematically tracking changes in market structure and position can often reveal the "path of least resistance" for prices. Currently, changes in Ethereum and Bitcoin position sizes may drive key options trading for the next round of price movements, potentially leading to a key price range that will gradually form by the end of March.