Here’s a set of data showing the 24-hour average of BTC spot Taker Sell volume on Binance. Let me quickly share two observations: 1. Yesterday’s drop didn’t see a significant increase in Taker Sell volume. It was almost the same as when BTC dropped to $75k on September 16, with no signs of panic selling. 2. Before August this year, every drop was accompanied by a surge in Taker Sell volume. But after August, Taker Sell only noticeably increases during price surges, while remaining pretty flat during drops. Isn’t this change super interesting? I’m sure those of you who’ve been following me for a while already know what I’m getting at. If you’re not quite sure, take a moment to think—why is this happening? Try looking at it from the perspective of market sentiment and investor confidence.