The data mentioned earlier is about Bitcoin, and there have been significant changes in the capital situation of cryptocurrencies themselves recently. Although there was a clear buying sentiment from investors when $BTC was between $60,000 and $70,000, recent capital flows indicate that a large amount of money has left the cryptocurrency market. After all, outside of Bitcoin, on a data level, other cryptocurrencies including $ETH have already entered a bear market.
However, starting from $70,000 for Bitcoin and now nearing $80,000, the amount of capital in the market has not continued to decrease; on the contrary, it has gradually increased. Especially in the past week, it has been observed that the main capital flow in the market has shifted from net outflow to net inflow.
Although it is uncertain how long this inflow can be maintained, if the inflowing funds can be sustained, it will easily drive the price of Bitcoin to continue rising. After all, data has shown that an increasing amount of BTC is flowing towards long-term and high-net-worth investors.
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