📊 Recently, the market has been experiencing some fluctuations, but to be honest - this is not the start of a Bear Market.

Data speaks:

• Large holders (10-100 $BTC ) reduced their holdings, but 1-10 BTC holders continued to accumulate during the drop from 10/6 to 10/11—"buying the dip" was fully enacted.

• The sharp drop on 10/11 was significant, but the losses realized by large wallets are much smaller than in April this year or August last year. The market is more mature, with reduced panic and sell-offs.

• Capital outflow is slower than before → a slight bullish divergence has emerged.

• The perpetual long-short spread has just returned to the 90-day median — speculative sentiment has returned to neutral.

Conclusion: $BTC The market structure is stronger and smarter than ever before. Black swans may bring short-term fluctuations, but the market's ability to absorb shocks is faster.

The foundation of the Bull Market is still there. Don't be tied down by old thinking - if you don't evolve, you'll fall behind 🔥