2026-01-09 08:26:22

Recently, an interesting phenomenon has been observed—the crypto market is showing signs of recovery after the December wave of concentrated sell-offs.

This is reflected in several aspects. First, spot BTC and ETH ETF funds are continuously flowing in, indicating that large institutions are gradually increasing their positions. Second, the market's leverage ratio has dropped to a historic low—3% of the total cryptocurrency market cap—meaning participants are becoming more cautious, and risk exposure has significantly shrunk.

Even more interesting are the signals from order book data and the options market. The order book shows that buying and selling pressures are becoming more balanced, while the skewness index in the options market indicates that investors' bets on a rebound are increasing—in other words, bullish sentiment is accumulating.

As the New Year holiday ends, market liquidity is recovering. This influx of funds does not seem to be greedy chasing highs but rather cautious yet firm risk reallocation. Institutional investors are signaling with their actions: the bottom area has already appeared.

BTC0,27%

ETH0,51%

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LadderToolGuy

· 01-09 08:51

Institutions are quietly accumulating chips, while we're still debating the rise and fall. The gap is huge. --- Once again, "the bottom has appeared." When was the last time you guys said that? --- Is a leverage ratio of 3% really true? Where does this data come from? It doesn't seem quite right. --- Continuous ETF inflows are real, at least indicating that not everyone has given up hope. --- Liquidity recovery ≠ necessarily taking over the position; it's better to stay cautious for now. --- An increase in options skewness just means bullish sentiment is accumulating? That's a bit of an overgeneralization. --- Anyway, I trust the actions of the institutions; they are much smarter than us. --- Wait, is now really the bottom to enter, or are we about to fall again? --- Cautious allocation sounds good in theory, but in reality, it's just gambling on a future rise.

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CodeAuditQueen

· 01-09 08:47

The leverage ratio dropping to 3% is indeed quite cautious... but I'm more concerned about whether there are any loopholes in the contractual terms behind these ETF funds. Institutions usually don't conduct in-depth audits before entering the market.

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GasFeeCryer