PANews reported on May 14th that 10x Research released a report stating that altcoin momentum is waning in its initial stages, with Bitcoin still dominating and trading volume declining again. The upward momentum of altcoins was capped by the 30-day moving average and failed to break through. If it falls below this moving average, long positions should be closed.

The report identifies BNB (Grayscale ETF application, Coinbase roadmap, etc.) and TRX (Tron actively buying back treasury assets, Moscow Exchange launching MOEXTRX index). Stocks potentially seeing more profit-taking include: SUI (up 21% this week, CME futures launched on May 29th, $143 million in treasury staking), ONDO (up 18.4%, partnering with JPMorgan Chase and Ripple to achieve the first tokenized Treasury bond redemption, part of the institutional infrastructure under construction), and TON (down 14%, due to security controversies and trust concerns sparked by the deletion of a well-known Telegram account). ETH, HYPE, TRUMPP, and MKR should be avoided. HYPE fell 9.9% after its ETF launch, a classic example of "buy the rumor, sell the fact." The report also lists three major catalysts this week: the Clarity Act hearings, Powell's power transition to Warsh, and CPI/PPI data.