10x Research posted on X that the recent rally in Bitcoin and Ethereum caught most market participants off guard. Additionally, crypto stock Circle has risen approximately 103% since February 20, primarily driven by a short-covering rally fueled by previously identified large hedge fund short positions. On February 27, 10x Research recommended positioning for a Bitcoin call spread at $75K/$80K (expiring March 27), based on market structure suggesting an increased probability of a rebound—a strategy that has since delivered a 155% return. Meanwhile, institutions have begun shifting portions of their portfolios toward high-elasticity crypto “proxy” stocks, including Strategy, Metaplanet, and Bitmine. However, given that overall trading volumes remain relatively low, 10x Research believes it is not yet the time to make substantial investments in crypto service providers (e.g., Coinbase), and instead favors direct exposure to Bitcoin via spot, options, and perpetual contracts. The next phase of price movement and the overall direction of the crypto market remain to be observed.
10x Research: BTC/ETH Rally Exceeds Expectations, Not Yet Time to Heavily Invest in Coinbase
TechFlowShare
Summary
BTC and ETH prices surged unexpectedly, surprising many market participants. Circle shares rose 103% since February 20 due to hedge fund short-covering. On February 27, 10x Research recommended a bullish BTC price spread option (75,000/80,000 USD, expiring March 27), which returned 155%. Institutional capital is flowing into high-beta crypto assets such as Strategy, Metaplanet, and Bitmine. However, with low trading volumes, 10x Research cautions against heavy exposure to Coinbase, favoring direct BTC and ETH options and perpetuals instead.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.