On-chain data#BTC资金流动性 can vividly reflect the current market sentiment changes. Addresses that have shifted from holding to completely emptying their wallets within 30 days are actually signals that investors are choosing to exit entirely under the dual pressure of price and time.

Looking at the wave of changes from mid to late November makes this clear— from the 13th to the 25th, the number of addresses clearing their BTC holdings surged, coinciding with the period when BTC experienced the sharpest decline and the largest drop. This reflects widespread pessimism and concentrated panic in the market.

But by December, the situation became interesting. From the 1st to the 18th, although BTC was still repeatedly testing lows, the number of addresses clearing their holdings actually began to decrease. This turning point perfectly aligns with the changing attitude of bullish traders in the futures market—indicating that data indicators from different dimensions are starting to point in the same direction. When multiple perspectives' information can be coherently verified, the correlation becomes particularly strong.

$BTC