David Duong, head of institutional research at Coinbase, and David Han, institutional research analyst at Coinbase, said in a note: "Overall, we continue to expect a favorable macro environment for cryptocurrency performance over the next 1-2 quarters, driven by stimulative monetary policy in the US and stronger economic conditions in the US."
Coinbase analysts David Duong and David Han said that, despite bitcoin's lackluster price action this week, "market sentiment has remained largely unchanged, as evidenced by the stability of perpetual contract funding rates and the number of unpositioned squaring contracts over the past week." Coinbase analysts pointed out that the macro factors affecting the performance of cryptocurrencies are shifting from monetary policy to the outcome of the US election, despite the recent rise in CPI and co...
Coinbase analyst David Duong said: "Expect market crypto market investors to continue to be cautious about their risk exposure in the coming weeks, with ETH and SOL currently showing higher beta values at around 0.85 and 0.83 respectively, making them more sensitive to the overall crypto market." David Duong pointed out that ETH and SOL have been major "beta investments" in the crypto market, exhibiting greater volatility than the overall market.
David Duong, analyst at Coinbase, said: "Market conditions on Tuesday suggest a potential short squeeze amid increased buying activity on centralised exchanges. We think market panic will continue in the short term, but there is a chance that bears will be squeezed here, which could lead to a market rally in the coming days." Bitcoin futures funding rates have remained negative over the past 24 hours despite a slight recovery in prices, indicating that demand for short positions remains high and...
Coinbase analysts David Duong and David Han said in Friday's weekly report that August is usually a month when the cryptocurrency market is not conducive to seasonal factors, and historically, market activity in August has been more subdued. For example, compared to June 2023, bitcoin spot trading volume in August of the same year fell by 19%. Bitcoin futures trading volume on global centralized exchanges also fell by 30% during the same period. They added: "Over the past five years, bitcoin has...
Coinbase research analysts David Duong and David Han said that the market depth of bitcoin on Coinbase has recently shown an imbalance between buy and sell orders, with a large number of orders. This increase in total bitcoin sell orders is particularly concentrated within 5% to 10% of the exchange midpoint, which limits greater price increases. Coinbase analysts said in a report on Friday: "The data suggests that we may see some profit taking at current levels, and/or that market participants a...