On-chain data also shows some signs of current sentiment recovery. The red area in the chart below represents the number of addresses that have gone from 'holding BTC' to 'completely cleared out' in the past 30 days. In other words, these are addresses that had a balance greater than 0 thirty days ago but have now fully liquidated. This reflects the behavior of investors choosing to completely exit their positions under the dual pressure of price and time. (Figure 1) From 11/13 to 11/25, the number of addresses clearing out BTC surged. This period also coincided with the fastest and largest drop in BTC prices. The large number of liquidated addresses highlights the market's panic and pessimism during that time. However, during the period from 12/1 to 12/18, as BTC repeatedly tested the bottom, the number of liquidated addresses began to decrease. This aligns perfectly with the bullish behavior and sentiment changes we just observed in the futures market. When conclusions drawn from data from different perspectives converge, they tend to have higher reliability. ---------------------------------------------- Sponsored by @Bitget｜ Bitget VIP: Lower fees, bigger perks!