According to PANews, a joint initiative by PANews and OKG Research, the 'Decoding the Truth of Web3' project, aims to reveal the reality of the Web3 world to readers using macro data and on-chain data.
In the article 'Cryptocurrency Market Reorientation: The Pain of Transformation Under the Global Liquidity Dilemma,' OKG Research Institute states that with the opening of the spot ETF channel in the first half of 2024, the cryptocurrency market has transitioned from a niche hedge market to a market highly sensitive to macroeconomics. Bitcoin has also transformed from 'digital gold' to an 'amplifier' for the US stock market, such as NASDAQ.
However, the dilemma of reorientation lies in the fact that the demand for the cryptocurrency market is not as high as it was in the second half of 2021, with a shortfall of approximately $23 billion.