10x Research stated in an article that although the market is optimistic about 2026, the data has already released negative signals.

10x Research posted on X, stating that although the market is optimistic about 2026, the trends in inflation, the labor market, and interest rate expectations are no longer moving in sync. This has created a macro environment that is more fragile than the surface optimism suggests. Major asset classes are signaling that market leadership may be narrowing. Since the end of October, bitcoin has dropped by 23%, and this volatility appears to be spreading to other risk assets. Investors need to focus on underlying data to determine whether to shift to a defensive investment stance.