[Murphy: On-chain data shows sentiment recovery, number of BTC liquidation addresses begins to decrease] Data analyst Murphy stated that on-chain data indicates signs of sentiment recovery. The number of addresses that transitioned from holding BTC to complete liquidation surged between November 13 and 25, reflecting panic and pessimism in market sentiment. During the period from December 1 to 18, BTC repeatedly tested the bottom, and the number of liquidation addresses began to decrease, aligning with the bullish behavior and sentiment changes observed in the futures market.