Gate Research Institute: Over 5 million BTC are in loss, market experiences a big dump while higher trade volumes strengthen token overview (Quantitative Biweekly Report)

<a href=“https://www.gate.io/learn/articles/gate-research-over-5-million-btc-in-loss-review-of-top-tokens-gaining-momentum-amid-the-market-downturn/8216?pid=Web&ch=dwCm6jKY&utm_campaign=TR_WZjQY79O&utm_content=&utm_medium=CPM&utm_source=CH_79kTf7RP&utm_term=” target=“_blank”>This report</a> conducts an in-depth analysis of the dynamics and trends in the cryptocurrency market from March 27 to April 10 through multidimensional data analysis, focusing on the key indicators of Bitcoin and Ethereum as well as contract liquidation situations, and highlights the market correction process and structural repair signs triggered by tariff policy disturbances in this round.

Key Summary:

• BTC rebounds to dominate market recovery, ETH continues to perform weakly: Over the past two weeks, the price of BTC has quickly risen to 82,000 USDT, with the market focus clearly shifting towards mainstream assets that are more resilient to declines; in contrast, ETH has seen a deeper drop, a lackluster rebound, and insufficient momentum for sustained increases, indicating that the risk appetite for funds has not yet fully recovered.
• The long-short ratio structure shows limited recovery in market confidence: The BTC long-short ratio rebounded to 1.01 before falling again, remaining below the early month’s high, indicating that market confidence is still to be restored; the ETH long-short ratio has fluctuated sharply in the short term, with bulls lacking sustained dominance, and overall trading sentiment remains cautious, with weak willingness to chase the ups.
• Contract positions and liquidation data amplify market volatility: In the past two weeks, the daily average liquidation amount reached 380 million USD, an increase of 90% month-on-month, indicating that leveraged funds faced significant liquidation during market fluctuations. ETH positions fell by over 20%, with the rebound not matching that of BTC, leading to a more conservative allocation of leveraged funds.
• On-chain data shows BTC entering a structural bottom area: Over 5,124,000 BTC are in a loss state, accounting for 25.8%, close to the levels of past phase bottom areas. Historical data indicates that high levels of this metric are often accompanied by sentiment clearing and long-term capital entering, making it worth considering as a reference for cycle reversal.
• Volume recovery tokens strengthen, trading volume fluctuations release structural opportunities: Some mid and small-cap tokens have experienced a surge in volume during the downturn, followed by a rapid rebound, showing a “volume recovery” trend. Tokens such as FARTCOIN, ARDR, and GAS have achieved over a 50% rebound while experiencing explosive volume, revealing the logic of fund switching under extreme market conditions.

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