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10x Research Reports Bitcoin and Ethereum Rally Surprises Market, Recommends Direct BTC Exposure Over Crypto Equities

10x Research reported via X that the recent Bitcoin and Ethereum market surge caught many participants by surprise. The firm highlighted that crypto stock Circle has climbed approximately 103% since February 20, attributing this to a short-covering rally fueled by significant hedge fund short positions. On February 27, 10x Research recommended a Bitcoin call spread at $75,000/$80,000, expiring March 27, a strategy that has since yielded a 155% return. While some institutions are reallocating portfolios into high-elasticity crypto proxy equities such as MicroStrategy and Metaplanet, 10x Research advises against substantial allocations to crypto service providers like Coinbase, preferring direct Bitcoin exposure through spot, options, and perpetual contracts.
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