As encryption continues to integrate with steep modifications to more than $ 102,000 in February, the market liquidity of Bitcoin is strengthening.
According to GlassNode’s chain data, capital inflows have slowed significantly, and liquidity conditions have deteriorated in both branches and futures markets.
The inflow of Exchange (the main measurement of market activities) decreased by more than 54% in the cycle peak, which led to low investors’ participation. report Tuesday.
At the same time, the public interest in Bitcoin futures decreases by 35%, reducing the market from $ 57 billion to $ 37 billion in the market, showing a decrease in leverage and speculative activities.
According to Coingecko data, assets fell by 15%to $ 82,800 in the last 30 days from $ 109,000 on January 20 and 15%over the last 30 days.
The main factor that contributes to liquidity crunch seems to be the release of cash and carry transactions. The trader is a strategy that mediates Bitcoin’s price premium in CME futures compared to the STOT price.
Another factor analyst pointed out what is a changing feeling of overseas macroeconomic development. tariff.
QCP Capital, headquartered in Singapore, said, “Without a new tariff headline, geopolitical science has returned to the forefront. memo Tuesday.
“The new strike of Israel, followed by a temporary ceasefire Printed gold Bitcoin continues to pay $ 3,000 and Bitcoin continues to have a negative correlation. ”
As the market is converted to dangerous off mode, institutional players have expanded this position, leading to the disadvantages of ETF leaks and bitcoin spot prices.
In the option market, the preferences for disadvantages are increasing, and the PUT options deliver an implicit volatility premium higher than the equal call.
Meanwhile, short -term holders are suffering from significant losses, and some urge them to surrender.
Despite the wider selling, long -term holders remain inactive, and GlassNode said that long -term convictions on Bitcoin’s proposals remain.
According to the GlassNode report, this cohort still occupies a significant part of the network of the network, and tends to be atnative in the second half of this period.
Bitcoin is now faced with a delicate balance. If fluidity decreases and speculative activity fades, volatility can increase in the short term.
It is still a key problem for traders to assess macroeconomic conditions and wider risk environments, whether new capital revenue to support higher prices remains at higher prices.
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