CoinKarma: The cryptocurrency market has returned to an internal game phase, and a short-term bottoming rebound may form.

According to Odaily, CoinKarma posted on X that the current cryptocurrency market has returned to an internal trading phase, with internal factors becoming the key drivers of short-term price fluctuations. In the absence of clear external incremental capital, the crypto market mainly relies on internal capital circulation, and short-term price movements are driven by the flow of internal funds and overall liquidity changes.

CoinKarma observed through the USDC/USDT Premium (which measures the premium or discount of USDC relative to USDT) and Overall LIQ (the overall market weighted liquidity indicator) that when the USDC/USDT Premium turns positive, it reflects a weakening of active selling behavior by dominant market funds on BTC/USDT. Currently, the USDC/USDT Premium and Overall LIQ are resonating again, indicating a high probability of a short-term bottoming rebound. CoinKarma also pointed out that compared to previous phases, the current medium- to long-term trend remains bearish, and potential selling pressure should be monitored.