Bitget Research Institute: Capital inflows are showing sustainability rather than speculation.

According to Odaily Planet Daily, Ryan Lee, Chief Analyst at Bitget Research Institute, stated in his latest market commentary that the expansion of stablecoin supply and net inflows into ETFs are continuously attracting traditional financial capital, becoming the main driving force behind the current crypto market. He pointed out that, more importantly, this round of capital inflows is sustainable rather than speculative, indicating that the market is moving towards a more mature stage of development. December will be a crucial macroeconomic window, with the end of government shutdowns and interest rate adjustments setting the tone for the market.

Furthermore, in a recent Bitget livestream, several guests shared their latest market assessments. Guest "Wang Buai" stated that the US government shutdown is expected to end in the short term, which will boost market confidence and drive capital inflows. He pointed out that the macroeconomic trend of this cycle can be compared to the situation during Trump's first term; after the government shutdown ended, the US experienced quantitative easing and Federal Reserve interest rate cuts, significantly improving market liquidity. Given that Trump's midterm elections are approaching next year, he will inevitably take measures to stimulate the US economy to consolidate his votes.

Guest commentator "CoinPoison" pointed out that the recent on-chain liquidity mismatch has intensified, with the utilization rate of mainstream lending pools generally approaching their limits. In the medium term, investors can moderately allocate to high-quality DeFi protocols that have been unfairly punished. In addition, they should focus on the short-term rebound potential of mainstream public chains such as BTC, ETH, and SOL, as well as popular themes such as AI and Memecoin. Overall, the market is still in a phase of "liquidity defense + sentiment game," and a trend has not yet been established. The current strategic focus should be on preserving liquidity, avoiding systemic risks, and patiently waiting for trust to be rebuilt and for the main trend to be confirmed.

Guest "30-Year-Old Retired" believes that from a long-term perspective, the market is currently in a transition phase between a bull and bear market. In the short term, the market is still mainly in a rebound phase, primarily driven by the boost in confidence regarding the resumption of government operations and the combined positive factors such as expectations of an interest rate cut cycle. He added that his preferred method for trend judgment is to observe changes in the MACD indicator to determine the market direction.