10x Research: The market faces multiple challenges, and the sustainability of Bitcoin and Ethereum's rebound is questionable.

According to a recent report from 10x Research, the current market faces challenges from compressed volatility, weak seasonality, and a lack of macro drivers, raising questions about the sustainability of the current rebound. Trump's recent move to expand cryptocurrency access in 401(k) accounts and boost gold's visibility could shift market sentiment, but the market reaction has been muted. Meanwhile, despite Ethereum's record address activity and price gains, these gains are driven more by narrative than fundamentals. Both assets are at critical technical boundaries, potentially leading to either accelerated or significant stagnation in momentum.