10x Research: Bitcoin falls below the emotional uproar, but smart money is looking for reverse opportunities.

According to news from CoinWorld, 10x Research stated in its latest report that despite the increasingly strong narrative that “Bitcoin has entered a Bear Market,” many traders are actually still maintaining long positions and are under pressure due to the recent fall. The agency pointed out that the old cyclical logic of “three years of rise, one year of fall” is being cited again, but the key is whether a “crowded consensus expectation” has formed at present, thus creating opportunities for reverse positioning. 10x Research mentioned that they turned bearish at the end of October, after which the implied volatility of Coinbase's stock significantly decreased, exhibiting the typical characteristics of “sharp falls and sharp pumps coexist” in a Bear Market environment. They emphasized that Bear Markets are very difficult to navigate, but due to the extreme volatility, they often nurture the best strategic opportunities. The report states that Bitcoin is testing its long-term rising trend line, and in previous years, each time it touched this trend line, it formed a key bottom, which could be either a short-term or a strategic level turning point. The key question now is no longer whether the market has entered a Bear Market, but rather “is this the position to accumulate at lower prices, or is it a turning point where one should be more cautious?”