From the perspective of the $BTC inventory on exchanges, the overall trend throughout the week is still declining. This means that although the price of BTC is falling, there is no panic; instead, many investors are buying in. Even in the last 24 hours, the new inflow of funds has only increased by 1,600 coins from the lowest point, which does not significantly impact the spot price.

Last week, we also observed from the annual data that BTC is currently at its lowest value of the year, and also the lowest in the past six years. This indicates that even though some investors believe the bull market has ended, in reality, more BTC is being bought by investors. The more the price drops, the more these investors buy.

Currently, it is becoming increasingly difficult for long-term investors to release their holdings at low prices, while short-term investors are holding less and less BTC.

This article is sponsored by #Bitget ｜ @Bitget_zh

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