Analysis: BTC and ETH Rebound Exceeds Expectations, But Current Timing Not Ideal for Heavy Positions in Crypto Stocks Like Coinbase

SmartContractAuditor · 2026-03-17T11:48:12+00:00

10x Research points out that this round of Bitcoin and Ethereum's gains have exceeded market expectations, with Circle rising approximately 103% since February. Investors should focus on market structure, with recommendations to position in Bitcoin options. Institutions are beginning to shift toward high-elasticity crypto stocks, but the market direction still needs to be observed.

SmartContractAuditor

2026-03-17 11:48:12

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Odaily Planet Daily reports that 10x Research posted on the X platform that the recent surge in Bitcoin and Ethereum caught most market participants off guard. Additionally, crypto stocks like Circle have risen about 103% since February 20, mainly driven by a short covering rally from previously identified large hedge fund short positions. On February 27, 10x Research recommended positioning in bullish Bitcoin call spreads at $75,000/$80,000 (expiring March 27), based on market structure indicating a higher probability of a rebound. This strategy has now returned 155%. Meanwhile, institutions are beginning to shift some positions into highly elastic crypto “proxy assets” stocks, including Strategy, Metaplanet, and Bitmine, although overall trading volume remains relatively low. However, 10x Research believes now is not the time for heavy investment in crypto service providers like Coinbase, but rather to gain direct exposure through Bitcoin spot, options, and perpetual contracts. The next phase and overall market direction still require further observation.

BTC-1.24%

ETH-0.86%

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