#数字货币市场洞察 Most people only look at price fluctuations, but they’re missing one thing:

After every pullback, BTC’s circulating supply is actually tightening further. On-chain data shows that the proportion of long-term holders has hit a new all-time high, and coins are being locked up at an accelerating rate. The supply shock from the halving cycle is still unfolding, combined with the possibility of global liquidity turning more accommodative—

Is this market noise? It’s clearly the main theme shifting.

$BTC $FHE $MDT