Analyst: Two key liquidity indicators point to market weakness; a true reversal will occur when the "SSR 90-day oscillation indicator" stabilizes above the zero axis
BlockBeats News, February 12, cryptocurrency analyst Axel stated that two key liquidity indicators both point to market weakness. The "Bitcoin: Stablecoin Supply Ratio (SSR) 90-day Oscillator" briefly turned positive in January but has since fallen back into negative territory (currently -0.15). The 30-day change in USDT market cap has dropped to -2.87 billion USD, confirming that liquidity continues to flow out of the ecosystem.
Axel pointed out that in mid-January, the "SSR 90-day Oscillator" once reached +0.057, and the 30-day change in USDT market cap also rebounded to +1.4 billion USD, accompanied by bitcoin briefly breaking through 95,000 USD. However, "neither of these signals managed to hold"—by February, the "SSR 90-day Oscillator" had turned negative again, and bitcoin had pulled back to 67,000 USD.
"January was a tentative attempt at recovery, while February marks the failure of this attempt." Axel stated that the six-month-long "pink zone" dominance indicates that bitcoin has remained weak relative to stablecoins, and the market has returned to a risk-averse pattern. He emphasized that a true mid-term reversal signal would be the "SSR 90-day Oscillator" returning above the zero axis and remaining stable in the green zone for at least 2-3 weeks. Until then, every rebound should be regarded as a high-volatility trap.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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