Agent of "1011 Insider Whale": Comparing the current Bitcoin trend with 2022 is absurd Odaily Planet Daily News: Garrett Jin, the agent of "1011 Insider Whale", wrote on X platform that recent analysts have compared the current BTC price trend with 2022, which is completely absurd. The underlying logic is fundamentally different in terms of long-term price patterns, macroeconomic background, investor composition, and supply/holding structure. 1. Macro background: In March 2022, the United States was in a cycle of high inflation and interest rate hikes, and capital's primary goal was to avoid risks. In contrast to the current macro environment, CPI and the risk-free interest rate in the United States are declining, and the AI technology revolution has strengthened the possibility of the economy entering a long-term deflationary cycle. Interest rates have entered the stage of interest rate cuts, and capital behavior is manifested as risk appetite. 2. Technical structure: 2021-2022 is a weekly level M top structure, while currently it is a weekly level falling below the upward channel, which is more likely to be a bear market trap before rebounding back into the channel. There is significant consolidation and turnover in the range of $62000 to $80850, providing better risk return for bullish positions. 3. Investor structure: From 2020 to 2022, the market will be dominated by individual investors. Starting from 2023, the launch of BTC ETFs has introduced structured long-term holders, locked in supply, and significantly reduced volatility. The volatility of BTC has shifted from 80% -150% in history to 30% -60%. The biggest difference between the current (originally early 2026) and 2022 BTC investor structure is that the market has shifted from retail led high leverage speculation to institutional led structural long-term holdings.