"Bitcoin (BTC) short-term weakness: liquidity tightening in risk assets is the cause"
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- Bitcoin (BTC)'s short-term decline was analyzed as originating from a lack of liquidity in the risk asset market.
- Bitcoin is under persistent downward pressure, which suggests liquidity contraction within the financial system.
- It reported that the U.S. SOFR–EFFR gap surged, a clear signal of liquidity contraction.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
On the 16th (local time), cryptocurrency-focused media CoinDesk analyzed that Bitcoin (BTC)'s short-term decline stemmed from a lack of liquidity within the risk asset market.
The outlet said, "Safe-haven assets such as gold and silver are repeatedly hitting record highs, but Bitcoin has given up the $109,000 level and continues to be weak," and explained, "Last week's crash was a process of excessive leverage being unwound, but the continued downward pressure thereafter indicates liquidity contraction within the financial system."
It added, "Liquidity shortages are acting as a factor that weakens preference for risk assets," and "In fact, the gap between the U.S. Secured Overnight Financing Rate (SOFR) and the Effective Federal Funds Rate (EFFR) surged from 0.02 to 0.19 in a week. This is a clear signal of liquidity contraction," it added.
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