Аналитики Coinbase предсказывают возможное восстановление биткоина после ноябрьской коррекции Translation: Analysts at Coinbase predict a possible recovery for Bitcoin following Novembers correction.

Analysts at Coinbase Institutional have entertained an optimistic outlook for the digital asset sector in December. They believe that the corrections seen in November have set the stage for a market recovery by the year’s end.

Experts noted a significant «reset» in trader positioning last month, with the cumulative open interest in perpetual futures for Bitcoin, Ethereum, and Solana decreasing by 16% compared to October.

There was a notable outflow of funds from American spot Bitcoin ETFs amounting to $3.5 billion, with $1.4 billion withdrawn from funds based on the second-largest cryptocurrency. Simultaneously, funding rates for Bitcoin futures dropped significantly below the three-month average.

Coinbase expressed cautious optimism, attributing the market dynamics to the «washing out of speculative excess.» The systemic leverage ratio stabilized at around 4-5% of the total market capitalization, down from 10% during the summer.

This reduction in leverage points to a healthier market structure, decreasing the vulnerability of assets to sudden downturns as the end of year trading approaches, experts concluded.

The profit-to-loss ratio reached levels historically indicative of the exhaustion of a downward trend, as highlighted by CryptoQuant analyst Darkfost.

The seven-day moving average has fallen below one, hitting 0.7, which indicates that the volume of realized losses has outpaced documented profits in recent weeks. This current figure is significantly below the annual average of 7.6.

The expert noted that such a trend has been observed during past corrections and suggests investor capitulation. Often, the peak of sell-offs presents the best entry points before a trend reversal.

Darkfost advised caution in interpreting this signal, emphasizing that the indicator reliably functions only in bullish market conditions. He believes that Bitcoin is currently in a «mid-cycle correction.»

According to Darkfost, the Hash Ribbons indicator has flashed a buy signal for the leading cryptocurrency. He described it as «strong and relevant,» but warned traders against rushing in.

He stressed that the metric indicates an opportune moment for long-term accumulation of the asset rather than an immediate market entry.

Historically, periods of miner «stress» have proven profitable for investors, with the sole exception occurring in 2021 when China imposed a total ban on cryptocurrency mining.

The Hash Ribbons methodology relies on comparing the 30-day and 60-day moving averages of hash rate. A drop in the short-term line below the long-term one signals capitulation, where market participants are forced to shut down inefficient equipment due to declining profitability.

In the short term, this puts pressure on prices, as companies actively sell off coin reserves to cover operational costs. However, such forced liquidation often creates local bottoms, yielding opportunities for favorable purchases, as explained by the analyst.

Lastly, researchers at the London Crypto Club have predicted a sharp surge in Bitcoin, driven by the upcoming Federal Reserve meeting.