Announcements 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)

2025-02-20 05:57:58 UTC 5031 Read

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<a href="https://www.gate.io/learn/articles/gate-research-newly-listed-tokens-face-broad-decline-short-strategy-yields-average-18-bi-weekly-quantitative-report/6650?pid=Web&ch=KyI0G6cP&utm_campaign=TR_26vpdr0d&utm_content=&utm_medium=CPM&utm_source=CH_79kTf7RP&utm_term=" target="_blank">This report</a> 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.

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Gate.io Team
February 20, 2025

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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)

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