Svmuu News: 10x Research has released its latest market report stating that Bitcoin traders have long misinterpreted the metrics of “global money supply” and “global liquidity,” while the movement of the U.S. dollar is one of the key factors influencing the price of Bitcoin.
10x Research points out that the U.S. dollar is currently strengthening across multiple dimensions, and historical experience shows that a stronger dollar typically has a negative impact on Bitcoin. Its U.S. dollar model has triggered only six sell signals since 2011; the most recent one occurred in November 2025, followed by a sustained decline in the price of Bitcoin over the subsequent months.
The report also noted that the global liquidity indicator, which circulated widely in the crypto community last year, was misused by the market. According to their research framework, the indicator issued a buy signal in early March of this year and an exit signal in late April, and the team has already calculated the potential time window for the next trigger.
10x Research stated that the report analyzed the potential time and price ranges for the bottom of this bear market by combining U.S. dollar trends, global liquidity, and other macroeconomic drivers, and concluded that Bitcoin the time window corresponding to the bottom of this cycle is gradually approaching.