10x Research: Market undercurrents are surging, BTC and ETH may face a trend shift

10x Research stated that the crypto market enters the new year with low activity, but derivative positions quietly send a completely different signal. Volatility is narrowing, capital flow is gradually increasing, and leverage remains high, even as trading volume and participation continue to decline. ETF capital flows, stablecoin trading activity, and futures positions are no longer in sync, leading to a seemingly calm market while undercurrents are stirring.

The downtrend of Bitcoin still exists, but it is likely to turn upward in January. Bitcoin's Relative Strength Index (RSI) is at 43%, showing a bullish signal; while the Stochastic indicator is at 30%, indicating a bearish signal. An RSI above 70% and a Stochastic above 90% may signal a bearish market, while an RSI below 30% and a Stochastic below 10% may indicate a bullish reversal. Bitcoin is 4.5% away from triggering a trend reversal, with the current trend being bearish. The key price level for short-term bullish/bearish sentiment is $88,421, while the major bullish/bearish price level is $98,759.

Ethereum may also see a shift to an upward trend in January. Ethereum's Relative Strength Index (RSI) is at 44%, indicating a bullish signal; while the Stochastic indicator is at 23%, showing a bearish signal. An RSI above 70% and a Stochastic above 90% may signal a bearish market, while an RSI below 30% and a Stochastic below 10% may indicate a reversal of the upward trend. Ethereum is only 5% away from triggering a trend reversal, with the current trend being bearish. The key price level for short-term bullish/bearish sentiment is $2,991, while the major bullish/bearish price level is $3,363.