Has the Bitcoin bear market ended? 10x Research: Early starters are already ahead with a 10% profit

Renowned analytics firm 10x Research’s latest market report says that Bitcoin traders who positioned early have already captured a 10% lead in profits. Although many traders in the market still choose to stay on the sidelines with no positions or hold a bearish outlook, the report also reminds investors not to wait too long for macroeconomic news, or they may miss the best time to enter.

Bitcoin trading volume remains lackluster, as the market waits and negative funding rates emerge

Looking at today’s crypto market, Bitcoin’s trading volume is still sluggish. In this kind of market environment, many traders appear confused—they are mostly waiting for a macroeconomic catalyst that may never show up, or quietly assuming that the bear market has not truly ended. 10x Research notes that this overly passive mindset will cause investors to seriously misjudge market conditions.

Divergence signals between open interest and funding rates

BTC futures open interest (left axis) vs. BTC funding rate (right axis)

Based on chart data (as shown by the yellow boxed line in the figure), as of May 2026, Bitcoin’s open interest has only edged up slightly from a low point to 27.9, but Bitcoin’s funding rate is at -6.1%, and its 30-day moving average is also trending downward.

The data divergence—open interest stabilizing while funding rates are negative—indicates that a large amount of capital is positioning for short positions, or that most people remain extremely bearish about the outlook. This aligns with the view that most retail traders and traders are still waiting on the sidelines or are bearish, which is often an early characteristic of a market reversal.

Has the Bitcoin bear market ended? Observational data shifts toward changing risk-reward

Historical experience shows that a bear market ending never happens because of a single news headline. The real reversal signals lie in a shift in internal market data indicators and changes in the overall risk-reward ratio. As the report puts it:

“Every new Bitcoin bull market begins slowly”

Key market turning points often occur when most participants are still watching from the sidelines. New long markets always begin quietly and gradually, rather than arriving alongside market frenzy.

Position before retail traders enter? 10x Research turned bullish a month ago

10x Research turned bullish a month ago. The report says that many traders still have not entered, and that is precisely an excellent opportunity for a market reversal. The best entry points in the market are often unsettling—they typically appear once objective data is already clear, but the crowd has not taken action yet. Having a systematic process to accurately identify market tops and bottoms is the core difference between professional trading and passive reactions from retail traders.

Investors still need to focus on risk management and hedging strategies

Even though bullish signals have emerged, potential risks remain. The report recommends that investors, based on their own risk tolerance, build positions cautiously and choose hedging selectively, so they can establish themselves robustly through the next market changes and expand profit advantages.

This article Bitcoin bear market is over? 10x Research: Early movers have already gained a 10% profit first appeared on Chain News ABMedia.