Analysis: Short-term bulls and bears are converging back to the long-term equilibrium point, indicating a potential shift in trend direction.

BlockBeats News, September 28th, on-chain data analyst Murphy stated that the Perpetual Contract Long/Short Volume Discrepancy (VDB) is used to measure the difference between active buy and sell volume. A positive value indicates stronger bullish momentum, while a negative value indicates stronger bearish momentum. Contrasting with the 90-day median is akin to a medium- to long-term "anchor" or "balance line" used to assess whether the current trend of long and short forces is relatively strong or weak.

The current VDB on Binance and other major trading platforms has all reverted to the 90-day median, indicating that short-term long and short forces have returned to a long-term equilibrium point, and the market is currently not showing significant "continued buying pressure skew" or "continued selling pressure skew." The previous short-term trend (whether bullish or bearish) is dissipating, and market forces are returning to balance. This phenomenon often occurs during a transitional period in the market, when a trend may be brewing in a new direction. If the VDB can continue to stay neutral or above and begin to tilt towards a positive value next, it means that funds are gradually realigning with the buy side, which is conducive to a short-term market rebound.

However, even with a short-term rebound, the STH-RP (Short-Term Holder Realized Price) should still be taken into account as a crucial reference point, currently around $111,500. If this level cannot be broken through and the VDB quickly turns negative here, it means that selling pressure is once again gaining the upper hand, and the price may face further adjustment. This analysis is for learning and communication purposes only and should not be considered as investment advice.