Bitget Research: Market Liquidity Improves, Suggests Paying Attention to Altcoin Trends

In the past 24 hours, the price of BTC has fluctuated downwards and is currently stabilizing at $63,000. According to data from Alternative.me, the fear index has recovered to 48 and is in a neutral phase. The total open interest across all markets fell by 2%, with contract funding rates for BTC and ETH less than an annualized 10%.

Bitget Research pointed out in today's report that current market traders are mainly in a wait-and-see state.

The Bitget Research believes: "From a macro perspective, the BTC ETF has been net inflowing for eight consecutive trading days, with a total net inflow exceeding $700 million. According to data from Defillama, the total market value of stablecoins in the crypto market is close to $170 billion, an increase of nearly $50 billion within one month. The influx of traditional funds into this circle is very obvious; it's expected that liquidity will improve in future cryptocurrency markets which may trigger a wave of altcoin trends - we suggest paying attention to recent altcoin movements."