Нисходящие тренды биткоина могут сигнализировать о будущем росте Translation: Bitcoins Downward Trends May Signal Future Growth

The recent correction in the cryptocurrency market has led to a significant liquidation of leveraged positions, setting the stage for a new growth phase for digital gold. Esto fue compartido por un colaborador de CryptoQuant conocido como EgyHash en su opinión.

According to him, the open interest in Bitcoin futures has plummeted by $12 billion, dropping from $47 billion to $35 billion. The analyst referred to this as “one of the most substantial decreases in recent years.”

The leverage ratio (ELR), which measures the average leverage of traders relative to reserves on exchanges, has fallen to its lowest levels since 2022.

However, EgyHash pointed out that the ratio of stablecoin supply to Bitcoin (SSR) plays a crucial role. This value has returned to its April lows.

“This trend indicates an increase in liquidity in stablecoins relative to the primary cryptocurrency, potentially signifying a buildup of purchasing power,” the expert explained.

He emphasized that historically, such reductions in leveraged positions have preceded significant long-term upward trends.

The conclusions of EgyHash are also supported by Glassnode’s analysis. Experts noted that the large-scale liquidation has eliminated “excess” speculative bets, reducing the risks of similar downtrends in the future.

According to Glassnode, funding rates in the crypto derivatives market have reached their lowest point since the bear market of 2022.

Negative indicators suggest a predominance of short positions, as traders anticipate further price declines. However, extremely low rates often create conditions for a bullish scenario—when prices begin to rise, a short squeeze may occur, forcing short sellers to close their positions en masse.

At the time of writing, the ratio of long to short positions stands at 46.58% to 53.42%.

The funding rate for Bitcoin on Binance remains negative, indicating investor caution, while Ethereum’s rate has turned positive.

As of the time of writing, the first cryptocurrency is trading at around $114,500, reflecting a 2.1% increase over the past 24 hours. The leading altcoin has rebounded to $4,100.

It’s worth noting that crypto funds received $3.17 billion amid the market correction. Year-to-date, the total inflow has reached $48.67 billion.