#BURNGMT 10x Research: Bitcoin market momentum weakens, South Korean trading volume drops from $25 billion to $6.7 billion
10x Research published an article on the X platform saying that the current market conditions of Bitcoin can be compared to the "death zone" of climbing Mount Everest, which is a critical stage with increased risks. Although Bitcoin may not have reached its peak, some indicators show that market momentum is weakening and we need to remain highly vigilant. In the past two weeks, the price of Bitcoin has fluctuated in a narrow range. After hitting the upper and lower limits of the range last week, it returned to the middle, forming a Doji pattern that indicates market hesitation. Historically, this pattern may indicate the continuation of the trend after a short-term adjustment, but combined with on-chain data and market structure analysis, there is still uncertainty in the future. In addition, South Korea's crypto trading volume has dropped sharply from US$25 billion to US$6.7 billion, and market activity has obviously weakened.
