Os dados da CryptoQuant revelaram novos insights sobre o estado predominante do mercado Bitcoin . Os dados apontam que a alavancagem do Bitcoin está diminuindo e os saldos de USDT mantidos nas exchanges estão aumentando. Os dados dão uma possível impressão de que o risco de liquidação em cascata poderia ser reduzido à medida que as garantias do USDT aumentassem.
O fundador e CEO da CryptoQuant, Ki Young Ju, compartilhou insights valiosos sobre as condições de mercado prevalecentes no ecossistema Bitcoin . De acordo com o executivo, o mercado Bitcoin está mostrando sinais de declínio do risco de liquidação em cascata, com contratos em aberto sobre futuros BTC-USDT caindo 7% em relação ao seu máximo histórico registrado em 21 de novembro. A redução nos contratos em aberto sobre futuros BTC-USDT sugere uma redução potencial nas posições alavancadas, o que poderia levar a um ambiente de mercado mais estável.
A alavancagem no mercado #Bitcoin está diminuindo.
A quantidade de contratos em aberto de futuros BTC-USDT caiu 7% em relação ao seu pico, enquanto os saldos de USDT mantidos em bolsa aumentaram 32% em um mês.
Se o $USDT depositado for para negociação de futuros, mais garantias em USDT reduzem o risco de liquidação em cascata. pic.twitter.com/ASOUIH0x5U
— Ki Young Ju (@ki_young_ju) 11 de dezembro de 2024.
Ki Young Ju also noted that USDT balances held in exchanges have risen by 32% in the last month. The executive highlighted that the USDT could be used as collateral for futures trading positions on the exchanges, therefore reducing cascade liquidation risks. The broader crypto market views the rising exchange-held USDT balances as a potential buffer against selling pressure from market participants.
According to additional data from the blockchain analytics firm, the leverage ratio, which divides global futures open interest by the number of coins held on exchanges, has also been declining since November 25th.
The metric has been on a progressive surge since August 12th, peaking at $0.2459 before dipping to $0.2237 as of December 10th. The recent decline in the Bitcoin Estimated Leverage Ratio shows a prevailing trend developing among investors toward lower leverage in the futures market.
Meanwhile, data from CryptoQuant also shows that Bitcoin reserves in all centralized exchanges have declined to an all-time low of 2.4 million BTC. The data also shows that the exchange reserves have been steadily declining since the beginning of the year.
Declining reserves indicate higher buying pressure, and investors are confident about the prevailing bullish market sentiment. The data also shows that investors prefer holding their assets in non-custodial wallets, showing more demand for Bitcoin.
Bitcoin demand is also evident on the U.S. spot Bitcoin exchange-traded funds, which currently hold $107.76 billion worth of Bitcoin, according to Sosovalue.
Bitcoin has risen 4.72% in the last 24 hours and 4.75% in the last seven days. According to CoinMarketCap, the crypto asset is currently retailing at $100,434 with a market cap of $1.988 trillion and a 24-hour trading volume of $95.6 billion.
TradingView also shows the asset trading between $104,082 and $90,589. However, the bulls appear to be in control of the market, and the asset is more likely to break the range and continue its upward trajectory that started in mid-September. The asset may find resistance at the top of the range, causing liquidations that may drive prices towards the bottom.
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