PANews reported on October 23 that according to Decrypt, 10x Research said in a report: "We believe that the market needs time to digest higher bond yields before Bitcoin can resume its upward trend, rather than being overly pessimistic." They emphasized that although the financing rates of Bitcoin and Ethereum have risen to 10%, spot prices have lagged behind and retail participation remains sluggish. "We hope to see multiple indicators align to confirm the bullish momentum, but this is not a major problem. The market may only need a few days to absorb these factors." In addition, the total inflow of stablecoins is the main driver of liquidity this year. 10x Research pointed out: "Since the launch of the Bitcoin spot ETF, stablecoin inflows have reached US$36 billion, and liquidity remains strong." And emphasized that these inflows continue to exert upward pressure on Bitcoin prices.