LOW VOLATILITY IS AN ILLUSION: 10X_RESEARCH SIGNALS A MAJOR CRYPTO MARKET INFLECTION POINT

The crypto market appears calm on the surface, with low volatility, weak volumes, and soft spot participation reflecting cautious sentiment.

However, derivatives data tells a different story. Leverage remains elevated, deleveraging is incomplete, funding rates are rising, and shifts in options structures indicate increasingly forward-looking positioning.

Together, these signals suggest the market is nearing a critical directional inflection point, where price moves will be driven less by spot action and more by derivatives leverage, funding costs, and options positioning.