Analysis: The USDC/USDT premium index and market liquidity indicators are resonating, suggesting a potential rebound in the short term.

[Analysis: USDC/USDT Premium Index and Market Liquidity Indicators Resonate, Short-Term Rebound Possible] According to Mars Finance, on January 1st, CoinKarma posted on social media that the cryptocurrency market has returned to an in-market game phase, with in-market factors becoming key to short-term volatility. In the absence of clear external incremental funds, the current crypto market is primarily driven by in-market fund circulation, with short-term price fluctuations largely stemming from changes in in-market fund flows and overall liquidity. CoinKarma recently observed that after a period of consolidation, some in-market fund behavior has shown signs of a turning point. When the USDC/USDT premium index turns positive, it indicates that USDC is trading at a premium to USDT, primarily reflecting a significant reduction in selling pressure from dominant market players on the BTC/USDT trading pair. The overall market liquidity indicator reflects the comprehensive weighted liquidity level of the entire market. Currently, the USDC/USDT premium index and market liquidity indicators are resonating again, suggesting a high probability of forming a bottoming-out structure in the short term. However, the current medium-to-long-term outlook remains bearish, and the potential impact of trend-driven selling pressure should be closely monitored.