The selling situation of $BTC transferred to exchanges helps us assess investor sentiment. From the data, although there has indeed been an increase in selling compared to the first half of the year over the past week, there has been a slight decrease compared to the previous two weeks. The selling pressure from investors is gradually decreasing, and their sentiment is shifting from selling back to holding.

However, correspondingly, the data on withdrawals from exchanges, which represents purchasing power, is also continuously declining. This indicates that investor purchasing sentiment has not only failed to improve but has actually decreased.

It is important to note that we previously analyzed that the recent rise in BTC prices is primarily based on a reduction in selling rather than a significant increase in purchasing power. Now, with an increase in selling and a decrease in purchasing power, this is the main reason hindering the rise in BTC prices.

The solution still requires Trump to convey strong confidence to the market.

This article is sponsored by #Bitget ｜ @Bitget_zh

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