PANews reported on December 17th that 10x Research published an article on its X platform stating that while everyone is optimistic about 2026—the data doesn't support it. Several closely watched indicators have begun to diverge, and historically, such divergence often foreshadows a shift in the market landscape. Inflation trends, labor market dynamics, and interest rate expectations are no longer moving in sync, creating a macroeconomic environment far more fragile than superficial optimism suggests. Meanwhile, major asset classes are signaling that market leaders may be narrowing and volatility may not be suppressed in the long term. Determining whether these dynamics foreshadow a mild slowdown or a more destructive scenario requires detailed analysis, not just superficial pronouncements. Market realities may soon become less favorable. Now is a crucial time to focus on the underlying data. Investors must decide for themselves whether to continue accepting the optimistic outlook for 2026 or to adopt a more defensive investment approach. As we wrote at the end of October, only those who sold at the highs could buy at the lows, and since then Bitcoin has fallen 23%, and this volatility now seems to be spreading to other risk assets.