Coin界 News reports that 10x Research posted an analysis on the X platform pointing out that Bitcoin prices have continued to rise slowly in recent times, with unusual changes appearing in capital flows across on-chain and derivatives markets. Over the past week, funding rates, capital flows, and multiple key risk indicators have all shown significant adjustments, indicating that the current market trend is driven more by position structure and market positioning. 10x Research's analysis believes that markets are sometimes dominated by fundamentals, technical factors, or macroeconomic factors, but systematic tracking of market structure and position changes can often reveal the price "path of least resistance." Currently, position changes in Ethereum and Bitcoin may drive key options trades in the next round of market movements, which may gradually form critical price competition intervals before the end of March.