10x Research posted on the X platform stating that Bitcoin's next move will not be determined by macro narratives. The market always prefers simple and easy-to-understand story logic, but Bitcoin rarely follows the rules.

While the US stock market can rise riding the strong seasonal capital flow at the beginning of the year, Bitcoin operates under a completely different set of rules. Calendar effects will gradually fade, macro correlations will collapse, and truly meaningful signals are often hidden in market structure, technical resets, and real capital movements.

Entering 2026, many widely cited macro indicators are sending optimistic signals. However, historical experience shows that such moments are often when market confidence is at its peak and the validity of signals is at its weakest. The real core issue is not whether liquidity is increasing, but whether real capital is positioning for the next market regime shift.