# 比特币市场动态

#比特币市场动态 When I saw this set of on-chain data, I was silent for a while. Since the crash in October, the epic distribution to long-term holders has been ongoing, and the logic behind it is worth everyone's vigilance.
2,536,000 BTC are accumulated in the $80,000-$90,000 range. What does this mean? It indicates that those long-term retail holders are selling off their profits on a large scale. Especially those with cost bases in the $60,000-$70,000 range are selling most aggressively. The coins accumulated before the 2024 US election are now being cashed out urgently. Why are these people in su

#比特币市场动态 Seeing Murphy's on-chain data analysis, I feel a bit emotional. During the sharp decline on October 11th, I sensed it was unusual. Now, two months later, the changes in the chip structure have thoroughly confirmed my judgment.
Between $80,000 and $90,000, there are 2.536 million BTC accumulated, an increase of 1.874 million compared to before the crash. What does this mean? It indicates that a large number of long-term holders have established a new cost defense line here. But what really makes me alert is the movement of profit-taking positions—the most aggressive selling of BTC wit

#比特币市场动态 Recently, by monitoring on-chain data, I discovered an interesting phenomenon—long-term holders are conducting epic distributions, and the cost structure of BTC chips has undergone significant changes.
The core situation is as follows: the 80,000-90,000 USD range now holds 2.536 million BTC, becoming the strongest support zone. Meanwhile, those old hands with costs in the 60,000-70,000 USD range are rushing to cash out and exit due to the four-year cycle theory and various market concerns, representing the largest volume of sell-offs.
What does this mean for us? The profit-taking ord

#比特币市场动态 Recently, the core discussion in the crypto circle revolves around one question: why isn't it moving up? The viewpoint from Bitwise advisors hits the nail on the head — without an increase in volatility, there is no real room for price to rise. This is not nonsense; it’s a hard technical constraint.
Carefully examining the triggers for this recent decline: forced liquidations, stagnation of crypto legislation, waning corporate buying momentum, and a shift in global risk appetite towards safe-haven assets. In simple terms, the fundamental support for the bulls is gradually collapsing.

#比特币市场动态 After reviewing Tom Lee's and IOSG's perspectives, let's clarify the core logic behind this wave of market signals.
The framework of coexistence between short-term defense and long-term optimism is indeed valid—the key lies in the misalignment of time horizons. Tom Lee emphasizes macro cycle liquidity judgments, while Fundstrat focuses on recent capital risk management; their differing responsibilities lead to variations in time frames, which is a normal division of labor among institutions and not a contradiction.
What is more noteworthy is IOSG's on-chain data: by 2025, retail inve

#比特币市场动态 Recently, discussions about the Federal Reserve's RMP have been heating up, and I think the underlying logic behind it is worth a thorough analysis.
Essentially, RMP is just a new name for the latest round of quantitative easing— the Federal Reserve is releasing liquidity, which increases the long-term depreciation pressure on fiat currency. So, what does this mean for the crypto market? Simply put, when traditional finance starts "printing money," the market will seek safe-haven assets, and Bitcoin's value as digital gold becomes more prominent.
Arthur Hayes's prediction is quite in

#比特币市场动态 On-chain capital inflow is weakening? This is the real shakeout, brothers! 🔥
CryptoQuant's data shows that BTC demand growth is slowing down. The three waves of spot ETFs, the upcoming election, and treasury companies have basically been exhausted. Perpetual futures funding rates have dropped to their lowest since December 2023, indicating a clear decline in bullish sentiment. Technical analysis also broke below the 365-day moving average, which is the dividing line between bull and bear markets.
But this is an opportunity! Santiment says there isn't enough panic yet, meaning the bo

#比特币市场动态 Recently, I've seen a bunch of analyses suggesting that Bitcoin might drop to $75,000 or even $65,000, which was a bit shocking 😅
But after looking into the data more carefully, I found an interesting point — experts are actually saying that the market hasn't truly entered panic mode yet! That is, although prices are falling, people's psychology remains relatively optimistic, thinking a rebound will come soon. This sounds a bit contradictory, but it seems to imply that the real bottom hasn't arrived yet?
Another piece of data that scared me is that Bitcoin has already fallen below

#比特币市场动态 Seeing this set of on-chain data, I am reminded of a common phenomenon in investing — when profit-taking chips are heavily sold off, it is often the time when market sentiment is the most unstable.
Behind this "epic distribution" by long-term holders, reflects a psychological game. The significant sell-off of BTC in the 60,000-70,000 USD range mostly stems from accumulation before the 2024 election, and now that profits have sharply retraced, many are rushing to cash out. I can understand this anxiety, but it also reminds us how important position management and mental resilience are

#比特币市场动态
The growth of the platform is a journey alongside time.
No skyscraper can be topped in one night, and no platform can reach the summit in a single step. Those seemingly sudden bursts of growth are all the result of daily honing — it's the feature modules being optimized at 3 a.m., the user processes that have been tested a dozen times before being finalized, and the original intention of persevering in the face of initial desolation.