2100

On-chain data also reveals some current sentiment repair protocols. The red area in the image below indicates the number of addresses that transitioned from "holding BTC" to "fully liquidated" in the past 30 days. This means that 30 days ago, the account balance was still greater than 0, but now it has become a liquidated address. It reflects the behavior of investors choosing to completely exit their positions under the dual pressure of price and time.

(Image 1) During the period from 11/13 to 11/25, the speed of liquidating BTC surged. This was also the time when the BTC price was falling the fastest and the most significantly, and the large number of liquidated addresses triggered panic and pessimism in market sentiment. However, during the period from 12/1 to 12/18, as BTC repeatedly tested the bottom, the number of liquidated addresses began to decrease. This is exactly the bullish behavior and sentiment change we just observed in the futures market, which has completely become stagnant. When conclusions from data from different angles converge, they will have a strong correlation.
$BTC #比特币流动性
{spot}(BTCUSDT)