#加密市场流动性 Recently I've seen a lot of analysis saying Bitcoin has entered a bear market. I was a bit panicked at first, but after carefully looking at the data, I understood what's happening 😅
It turns out the previous Bitcoin gains were mainly driven by three waves of demand——things like US spot ETFs, election results, MicroStrategy purchases and other major events. But starting from October this year, these new incremental demands have been basically exhausted, like a feast ending and remaining guests leaving. The most straightforward example is the US spot Bitcoin ETF, which was frantically buying in Q4 last year, but now has actually started net selling, reducing by 24,000 BTC!🚨
There's another detail that's particularly interesting——the growth of whale addresses holding large amounts of Bitcoin is also below historical trends, which is exactly the same as before the bear market at the end of 2021. Data doesn't lie; liquidity outflow is indeed happening.
What concerns me most now is that Bitcoin has already broken below the 365-day moving average. I hear this is a historically very important technical dividing line. Although as a newcomer I'm still a bit confused, I wanted to ask everyone——how should we respond during this phase of liquidity depletion? Should I continue holding or should I wait and observe? I'd like to hear what seniors think 💭
#加密市场流动性 Recently I've seen a lot of analysis saying Bitcoin has entered a bear market. I was a bit panicked at first, but after carefully looking at the data, I understood what's happening 😅
It turns out the previous Bitcoin gains were mainly driven by three waves of demand——things like US spot ETFs, election results, MicroStrategy purchases and other major events. But starting from October this year, these new incremental demands have been basically exhausted, like a feast ending and remaining guests leaving. The most straightforward example is the US spot Bitcoin ETF, which was frantically buying in Q4 last year, but now has actually started net selling, reducing by 24,000 BTC!🚨
There's another detail that's particularly interesting——the growth of whale addresses holding large amounts of Bitcoin is also below historical trends, which is exactly the same as before the bear market at the end of 2021. Data doesn't lie; liquidity outflow is indeed happening.
What concerns me most now is that Bitcoin has already broken below the 365-day moving average. I hear this is a historically very important technical dividing line. Although as a newcomer I'm still a bit confused, I wanted to ask everyone——how should we respond during this phase of liquidity depletion? Should I continue holding or should I wait and observe? I'd like to hear what seniors think 💭