October's position squaring is more likely to be a prelude to longer-term market strength rather than weakness, according to a monthly report from Coinbase, with the fourth quarter (Q4) expected to see a "light pack" rally. Excess leverage has been removed, fundamentals remain solid, and institutional investors are quietly returning. Savvy money is gathering around EVM chains, risk-weighted assets (RWA), and income agreements - a sign that investors are selectively risk-reinvesting, not pulling out.
Main conclusions: Leverage levels have improved, but liquidity gaps remain; capital is spinning, not pouring in - selective investment remains critical; macro risks remain, but structural demand is strengthening. The agency sees this as a bottoming stage before the next rally, not a cyclical top.
Coinbase agency report: October's position squaring event will create conditions for Q4 to rise
2025-11-10 03:13:05
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