Sometimes it's quite fun to study the data. Although it may not directly translate into the win rate of opening contracts, it is still somewhat helpful for making phased judgments. For example, the 530,000 coins "locked" by the spot ETF for #BTC that we mainly talked about today is an example. It can be said that the rise is also because of these 530,000 coins. If it were to fall, it might still be because of these 530,000 coins. Over the past 110 days, the purchase of 530,000 BTC has driven the price up by as much as $30,000.

Currently, there is no sign of these 530,000 coins leaving, which actually alleviates the market pressure. However, once this portion of chips also starts to become restless, the market may open a downward channel. Coincidentally, the inventory of BTC on exchanges continues to decline, representing many investors who have bought in and are not in a hurry to sell.

Moreover, the reason why these investors are not selling may be partly due to the halving cycle and the U.S. election, and it is very likely that behind this is a large number of institutional bottom positions. If it is the latter, the next steps will be even more exciting.

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