Coinbase Institutional said that despite market volatility, relevant indicators show that leveraged and speculative positions have fallen significantly, which may lay a more solid foundation for the market at the end of the year.
The data pointed out that the unpositioned squaring volume of BTC, ETH, and SOL perpetual contracts fell by 16% month-on-month; US spot ETF outflows of $3.50 billion BTC and $1.40 billion ETH; BTC perpetual contract funding rates once fell to 2 standard deviations below the 90-day average and rebounded. Coinbase Institutional believes that with systemic speculative leverage having fallen from about 10% in the summer to 4% - 5%, the market structure is healthier and less sensitive to sharp corrections in the short term.
Coinbase Institutional: Leverage clears sharply, market structure is healthier
2025-12-10 04:13:25
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