Analysis: USDC/USDT Premium Index Resonates with Market Liquidity Indicator, Rebound Likely in the Short Term
BlockBeats News, January 1st, CoinKarma officials stated on social media that the current cryptocurrency market has returned to an on-chain game stage, where on-chain factors have become key to short-term price movements. In the absence of clear external incremental funds, the current crypto market is mainly driven by on-chain fund circulation, and short-term price fluctuations are more due to changes in on-chain fund flows and overall liquidity. CoinKarma has recently observed that after a period of consolidation, some on-chain fund behaviors have shown signs of a turning point.
When the USDC/USDT premium index turns positive, indicating a premium of USDC over USDT, this mainly reflects a significant weakening of the market-leading funds' active selling pressure on the BTC/USDT trading pair. The overall market liquidity index reflects a comprehensive indicator of the overall market's weighted liquidity level. Currently, the USDC/USDT premium index and the market liquidity index are resonating again, likely to build a bottom rebound structure in the short term. However, the current medium- to long-term outlook remains bearish, and caution is still needed against the potential impact of trend-selling pressure.
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