Bitcoin Enters Calmer Phase as Leverage Fades, Data Shows

Ben Graham · Quinta em 13:24

Bitcoin is showing signs of entering a calmer, more durable phase, according to new quarterly analysis from Coinbase and on-chain data firm Glassnode. Price action has steadied after last year’s sharp swings, with fewer forced liquidations hitting the market. This shift comes as global investors focus less on fast trades and more on protecting capital amid shaky macro headlines.

For everyday holders, this matters because wild leverage-driven crashes tend to punish beginners the hardest. A steadier market lowers the odds of sudden 30% drops caused by traders borrowing too much. That does not mean Bitcoin stops moving. It means the moves make more sense.

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What Does a “More Stable” Bitcoin Market Mean?

In plain English, stability means fewer traders are using borrowed money to gamble on short-term price jumps. Leverage works like buying stocks on a credit card. Gains feel bigger, but losses spiral fast. When too many traders do this, even small drops can trigger forced selling.

Coinbase and Glassnode say that excess leverage washed out during the Q4 selloff. That leaves a market where buyers and sellers use real capital, not loans. The result is slower moves and fewer panic cascades like those seen during Bitcoin’s recent volatility.

BREAKING: Bitcoin just dropped $2,700 and liquidated $356 million worth of longs in the last 60 minutes.

Nearly $100 BILLION has been wiped out from the crypto market. pic.twitter.com/tRzzCyxyPq

— Bull Theory (@BullTheoryio) January 29, 2026

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Institutional Behavior Is Changing the Game

(Source: Bitcoin ETF Net Flow / CMC)

The report shows a clear shift in how big players act. Instead of betting on nonstop upside, many now buy insurance against drops using options. Think of options as a seatbelt. You hope not to need it, but you pay for safety.

Options activity has now passed perpetual futures, which are high-risk tools favored by short-term traders. This signals a market shaped by patience and balance, not adrenaline. It also explains why Bitcoin increasingly trades like gold or stocks, a trend also seen in recent comparisons between Bitcoin and gold.

Why Liquidity and Money Supply Still Matter

Global money supply is exploding.

– It took 50+ years to add $20 trillion.
– Since 2020, global M1 alone added ~$25 trillion.

You don’t print that much money and get “temporary” inflation. pic.twitter.com/ezbfrqQ65D

— Lukas Ekwueme (@ekwufinance) January 29, 2026

One forward signal in the report tracks global money supply, which measures how much cash flows through the financial system. Historically, this index has led Bitcoin’s price by about 3 months. Right now, it points to support, not a breakout.

That context helps beginners avoid emotional decisions. Stability does not mean instant profits. It means the market reacts more to real economic shifts, such as interest rates and currency movements, than to social media hype.

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