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10x Research

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Delivering actionable, top-tier research for Hedge Funds & Traders at the crossroads of digital assets & financial markets. Learn @ https://post.10xresearch.co/

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@circle reported decent earnings; stock up 14% in pre-market trading. On Feb 20, we suggested that Circle shares would "enjoy" a quick short squeeze.... stock jumped from $62 to $70.... From our report: Crypto equities are entering a potentially decisive moment. Weak earnings, elevated short interest, expiring lock-ups, and shifting regulatory signals are colliding at a time when positioning appears increasingly asymmetric. While headline fundamentals remain mixed, options markets, insider behavior, and short positioning suggest that the next move may be driven less by earnings themselves and more by how crowded the trade has become. Hedge funds were aggressive short sellers of Coinbase during the last Bitcoin bear market, but they made a critical mistake near the cycle’s end. Even as Bitcoin began to recover and Coinbase shares rallied sharply, short interest continued to rise, a late bearish push that ultimately proved costly. Today, despite its liquidity, competitive pressures, and still sizeable market capitalization, @coinbase is not the primary short target within crypto equities. Instead, hedge funds have concentrated their bearish positioning elsewhere. There is another crypto stock where short interest has built up meaningfully, and with several catalysts approaching, those “sharks” may need to reassess quickly, especially if the tide begins to turn against them. update.10xresearch.com/p/coinb...…

Crypto One Liners: What’s Driving the Market in a Minute CRYPTO CURRENCIES Bitcoin is facing institutional ETF outflows and macro-driven pressure, but whale accumulation and better inflation data have supported a price rebound. Ethereum declined due to record ETF outflows and forced liquidations, while whale accumulation and asset manager transfers signal institutional repositioning. Solana faces mixed sentiment as whale selling pressures prices, but institutional adoption, tokenization pilots, and infrastructure upgrades support long-term demand. XRP is supported by strategic tokenization partnerships and whale accumulation, though large transfers reflect ongoing institutional repositioning and caution. BNB Chain is benefiting from strong ecosystem growth, rising real-world asset adoption, and a new $1 billion builder fund driving network activity. Tron is supported by treasury accumulation, dominant stablecoin settlement activity, and growing institutional interest, including potential ETF developments. TON is gaining momentum due to Telegram wallet integration, mass adoption initiatives, and expanding ecosystem infrastructure. Hedera is attracting institutional attention through futures expansion, enterprise partnerships, and growing real-world asset tokenization adoption. Monero is benefiting from new cross-chain functionality and growing privacy demand, despite continued regulatory scrutiny. Aave is strengthening due to governance reforms, improving value capture mechanisms, and expanding institutional DeFi integrations. Hyperliquid is gaining institutional credibility through record trading volume, token buybacks, and major institutional token purchases. ... and a lot more crypto currency one liners, and also crypto stocks and some macro one liners. Find everything here: update.10xresearch.com/p/crypt...…

10x Weekly Crypto Kickoff – Liquidity Is Quietly Leaving Crypto—Setting Up the Next Major Move The report covers derivatives positioning, volatility trends, and funding dynamics across Bitcoin and Ethereum, along with sentiment, technical signals, ETF and stablecoin flows, option activity, expected trading ranges for the next 1–2 weeks, and key upcoming market catalysts. Why this report matters Crypto markets are at a critical turning point, with liquidity quietly leaving the system even as volatility and sentiment reach extreme levels. Traders are unwinding crash hedges, positioning is lighter, and volatility expectations are shifting—conditions that often precede major directional moves. At the same time, macro conditions are turning more favorable, but crypto has yet to respond, creating a disconnect that rarely persists for long. This report reveals what derivatives positioning, liquidity flows, and volatility signals suggest about whether the market is stabilizing or preparing for the next major move. A sharp decline in trading volumes indicates the rebound is losing momentum, and the risk of a gradual decline is higher. The Crypto market cap stands at $2.35 trillion, down 2.1% from the week before, with an average weekly volume of $100 billion, down 49% from the average. Weekly Bitcoin volume was $43.3 billion, -47% lower than average, while Ethereum volume was $21.4 billion, -58% lower than average. Ethereum network fees (0.04 Gwei) are in the 4th percentile, indicating low network usage... .... and a lot more. What it all means for Bitcoin -> Full report. update.10xresearch.com/p/10x-w...…

Crypto Stocks: Understand What is Moving in the Market and Why. Crypto and crypto-related equities are entering a critical inflection point, with inflation falling faster than expected and positioning reaching extreme levels. @coinbase has quietly rebounded despite disappointing earnings, while several AI-pivoting miners are attracting billions in institutional capital and long-term infrastructure commitments. Bitcoin has stabilized after forced liquidations and whale accumulation has resumed, but key structural risks remain unresolved. Meanwhile, falling Treasury yields and shifting rate expectations are beginning to alter the macro backdrop. To optimize its capital structure and mitigate direct share dilution, @MicroStrategy announced a shift toward using perpetual preferred stock rather than common equity for future acquisitions. MSTR remains under pressure, with $4.8 billion in unrealized losses. The question now is whether this marks the start of a powerful counter-trend rally, or the final setup before Bitcoin moves toward its ultimate cycle low. Read our full report with 25 crypto stocks: strategy.10xresearch.com/p/cry...…

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