10x Research: Altcoin Market Is Fragile and Bitcoin Is Oversold, but Positioning Structure Is Quietly Changing

PANews February 21 News, 10 Research posted on X platform that the current structure of the crypto market is changing. The overall altcoin market remains fragile, Bitcoin is in an oversold zone, but at the same time, the market positions of crypto stocks and some selected altcoins are quietly shifting, with some assets beginning to outperform. Among them, Optimism (OP) is under pressure, with OP-USDT currently breaking below the 7-day and 30-day moving averages, indicating a bearish technical outlook, with a 24.4% decline over the past week. Additionally, the Base blockchain is gradually diverging from the OP Stack, which means their previous revenue-sharing partnership has ended. Optimism has officially launched its first monthly token buyback plan, committing to use 50% of the remaining Superchain revenue to repurchase OP on the open market. The liquidity staking protocol ether.fi has migrated all its non-custodial operations to the OP mainnet to leverage its enterprise-level scalability, providing some fundamental support for OP.