[//]:content-type-MARKDOWN-DONOT-DELETE ![](https://gimg2.staticimgs.com/image/article/1740041322ann_en.webp) This report delves into the market trends from February 3 to 17, analyzing Bitcoin and Ethereum market volatility, funding rates, long/short trading volume ratios, open interest, contract liquidations, and the correlation between BTC and traditional financial markets (S&P 500 ETF). Additionally, the quantitative backtesting section focuses on the market performance of newly listed contract trading pairs, offering investors more comprehensive market insights. ### Key Highlights: **Market Volatility and Trading Sentiment:** BTC volatility decreased, while ETH's volatility significantly increased due to intensified de-leveraging. The BTC long/short trading volume ratio fluctuated between 0.90 and 1.15, showing cautious market sentiment, while ETH's ratio ranged from 0.85 to 1.05, with weaker price rebounds and evident capital flow divergence. **Leverage Market and Funding Rates:** Funding rate volatility increased, reflecting growing market divergence between long and short positions. BTC saw capital flow into mainstream assets, with open interest rising, while ETH's funding rate continued to fluctuate, and leverage market turbulence worsened. Recent market turmoil led to a significant rise in liquidations, with short-term price swings replacing previous one-sided liquidations, indicating heightened market uncertainty. **Quantitative Backtest of Newly Listed Contract Trading Pairs:** A backtest of 37 newly listed contract trading pairs from January 1 to February 7, 2025, showed higher short-term yields from short positions. The average return within 15 minutes after listing was 5%, with returns increasing to 18.23% after 3 days, and the overall portfolio's cumulative return reached 30.13% after ten days. However, some pairs experienced position liquidations, indicating risks in short-term trading strategies. **Macro Environment Impact on the Market:** Recent U.S. Government policy changes, including tariff policies and inflation expectations, have heightened market risk aversion and could amplify market volatility. BTC's correlation with traditional financial markets has risen, with the S&P 500 ETF correlation coefficient reaching 0.72, suggesting that macroeconomic changes are increasingly impacting the crypto market. **Gate Research** Gate Research is a comprehensive blockchain and crypto research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis. Click the Link to learn more *Disclaimer This content does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please note that Gate may restrict or prohibit some or all services for users from restricted regions. For more information, please read the User Agreement at https://www.gate.io/user-agreement. Investing in the cryptocurrency market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages from such investment decisions.* **Gateway to Crypto** Trade over 3,700 cryptocurrencies safely, quickly, and easily on Gate • Visit our Official Website • Download Gate App / Web now • Follow us on Gate X (Twitter) to get more bonuses • Join our Telegram to discuss hot topics • Join our Global Community to get more updates • We provide 100% proof of reserves • Sign up to enjoy max. $10,000 in rewards exclusively for new users • Get 40% commission from referrals Gate Team February 20, 2025

Gate Research: Newly Listed Tokens Face Broad Decline, Short Strategy Yields Average 18% (Bi-Weekly Quantitative Report)

Gate Research: Newly Listed Tokens Face Broad Decline, Short Strategy Yields Average 18% (Bi-Weekly Quantitative Report)