Being named by Miss Shufan, I'll simply share my personal insights:
Recently, BTC's liquidity has been extremely shrinking, and the overall market demand is not as good as in March and November 2024. I always believed it was just a range rebound and couldn't form a stronger trend. However, the facts were extremely face-slapping, and I was educated by the market. The market is always right. The atypical trend in a non-typical bull market is worth carefully summarizing and reflecting on.
Currently, my primary concern is whether the market has the capacity to absorb when long-term holders begin large-scale distribution. If it can, it will be the main rising wave. If not, it will be knocked back to its original state.
Of course, LTH is still in an accumulation period, so the market hasn't experienced excess supply. However, the slope of the supply curve has started to flatten, clearly indicating that some high-level distribution has offset accumulation.
Will long-term holders experience large-scale distribution? I think they will. Everyone has a price in their heart. They haven't betrayed their faith yet only because the offered price hasn't reached their expectation. In this world, there are no unsellable chips, only prices that aren't sellable.
