10x Research: The market is facing multiple challenges, and the sustainability of the rebound of Bitcoin and Ethereum is questionable

According to the latest report from 10x Research, the current market is facing challenges such as reduced volatility, seasonal weakness, and a lack of macro drivers, which raises doubts about the sustainability of this rebound. Trump's recent move to expand the access of 401 (k) accounts to cryptocurrencies and increase attention to gold may change market sentiment, but the current market response is relatively calm. Meanwhile, despite Ethereum showing record breaking address activity and price increases, it is more driven by narrative rather than fundamental support. Both assets are at critical technological boundaries, and future momentum may accelerate or significantly stagnate.