According to an article published on the X platform by CoinKarma, as reported by Odaily Odaily, the cryptocurrency market has returned to a phase of internal market dynamics, with existing market factors becoming key to short-term price movements. In the absence of clear external capital inflows, the crypto market is primarily driven by the circulation of existing funds, with short-term price fluctuations stemming from changes in the flow of these funds and overall liquidity.
CoinKarma observed through USDC/USDT Premium (a measure of USDC's premium/discount relative to USDT) and Overall LIQ (a weighted liquidity indicator) that when USDC/USDT Premium turns positive, it reflects a decrease in active selling of BTC/USDT by dominant market funds. Currently, USDC/USDT Premium and Overall LIQ are resonating again, suggesting a high probability of a short-term bottoming out and rebound. CoinKarma also points out that compared to the previous period, the medium-to-long-term trend remains bearish, and potential selling pressure should be monitored.
