[Coin World] There is an interesting phenomenon in the on-chain data over the past month - market sentiment is recovering.
Back in mid-November, BTC was falling the hardest. During the period from November 13th to 25th, a large number of addresses switched from "holding on" to "completely emptying," and the volume of this change surged. This reflects the strong atmosphere of panic and bearish sentiment in the market.
However, the situation changed after entering December. Starting from December 1st, although BTC has been repeatedly confirming at the bottom, interestingly, the number of clearing addresses has begun to decrease. This change completely aligns with the bullish performance in the futures market—on one hand, more people choose to hold firm, while on the other hand, large futures traders are gradually increasing their positions, and the market sentiment has clearly warmed up.