10x Research: Undercurrents in the Market, BTC and ETH May Be Facing a Trend Reversal

BlockBeats News, December 29th, 10x Research published an article stating that the crypto market is entering the new year with subdued activity, but the derivatives market is quietly sending a starkly different signal. Volatility is narrowing, funding flows are gradually increasing, leverage remains high, even as trading volumes and participation decline. ETF fund flows, stablecoin trading activity, and futures positions are no longer in sync, leading to a seemingly calm market surface concealing turbulent currents.

The downward trend of Bitcoin still persists but is likely to turn upwards in January. Bitcoin's relative strength index (RSI) is at 43%, indicating a bullish signal, while the stochastic oscillator is at 30%, indicating a bearish signal. An RSI above 70% and a stochastic oscillator above 90% may herald a bearish market, while an RSI below 30% and a stochastic oscillator below 10% may indicate an upward reversal. Bitcoin is 4.5% away from triggering a trend reversal, with the current trend being bearish. The key price for short-term bullish/bearish outlook is $88,421, with the primary bullish/bearish price being $98,759.

Ethereum may also see a turnaround to an upward trend in January. Ethereum's relative strength index (RSI) is at 44%, showing a bullish signal, while the stochastic oscillator is at 23%, showing a bearish signal. An RSI above 70% and a stochastic oscillator above 90% may suggest a bearish market, while an RSI below 30% and a stochastic oscillator below 10% may indicate a reversal to an upward trend. Ethereum is only 5% away from triggering a trend reversal, with the current trend being bearish. The key price for short-term bullish/bearish outlook is $2,991, with the main bullish/bearish price being $3,363.