Market liquidity
The number of USDT decreased by 365 million, which is the largest decrease since July 2023, indicating that the liquidity of funds in the market has deteriorated.
Market leverage ratio
The holdings of Bitcoin are 662,900, which has not dropped significantly from the highest level of 667,000, and is about 10% higher than the lowest level of 603,100 in December.
Ethereum holdings rose slightly during the decline and are now 7.3827 million ETH, a record high.
Overall, the leverage ratio of mainstream currencies is still very high.
ETF fund flows
The four major Bitcoin spot ETFs had a total outflow of US$548.8 million yesterday, which is much more than the outflow in the previous two days.
The three major Ethereum spot ETFs had an outflow of US$4.9 million yesterday, which is much less than the outflow in the previous few days.
Bitcoin ETFs have encountered greater selling pressure, while Ethereum ETF selling pressure has eased.
Market sentiment
The weighted funding rates of Bitcoin and Ethereum are very low, less than 0.01%.
The USDT lending rate on Binance has dropped slightly, currently at 11.83%.
Overall, market sentiment is still not optimistic. US buying As the market fell, US Bitcoin buying continued to decrease, and the Bitcoin premium index on Coinbase has also been falling. #比特币市场波动观察
