The selling pressure on the Bitcoin blockchain has significantly eased, and the Federal Reserve's interest rate cut may support a rebound.
According to analysis from CryptoQuant, the Bitcoin market has experienced a significant easing of selling pressure over the past few weeks, which may lay the foundation for a price rebound.
The report points out that multiple key on-chain indicators show that the amount of Bitcoin deposited by investors, especially large traders, into exchanges has sharply decreased, which is a core signal of weakened market selling pressure.
Data shows that the overall inflow of Bitcoin into exchanges has dropped significantly from an average of about 88,000 coins per day in mid-November to about 21,000 coins currently.
This downward trend coincides with the BTC price rebounding from a low of $80,000 to a high of $94,000 during the same period, indicating a reduction in the circulating supply of Bitcoin in the market, which may drive prices up.
Moreover, the proportion of deposits from large traders (whales) has decreased by more than half from peak periods, and the average deposit size is also shrinking. This trend aligns with the decline in the overall inflow of Bitcoin into exchanges, further indicating that the market may face a "supply shock."
Analysts believe that the easing of selling pressure is due to investors having recognized and digested their existing losses. About a month ago, both new and old whales encountered the largest single-day loss since July, amounting to $646 million, after which this group accumulated losses exceeding $3.2 billion;
During the same period, short-term holders also sold assets at a negative profit margin (the spent output profit ratio SOPR was below 1) for four consecutive weeks. Historical experience shows that after market participants generally recognize and bear substantial losses, panic selling usually exhausts, thereby providing conditions for the market to bottom out.
From a macro perspective, the recently concluded Federal Reserve FOMC meeting announced a 25 basis point interest rate cut, and this shift towards a loose monetary policy may provide additional liquidity support expectations for risk assets like Bitcoin, further consolidating market optimism.
In summary, on-chain data indicates that the selling pressure in the Bitcoin market has significantly eased, and investor sentiment has shifted from panic selling to loss digestion.
If the low selling pressure state continues, coupled with the market stimulus brought about by the interest rate cut, Bitcoin is expected to complete its bottoming out after digesting the current price level.
The market is also expected to gradually transition from the "surrender-style selling" phase to a balanced recovery phase driven by new funds and the confidence of holders.
#链上数据 #市场分析