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The correlation between the exchange's Bitcoin supply and market sentiment has been validated through multiple rounds of cyclical fluctuations, and this data can be considered a "thermometer" for investors' expectations of BTC's future trend. The latest monitoring shows that even in the face of Moody's downgrade of the U.S. credit rating, a significant macro event impact, or BTC's strong breakthrough of the key point at 107,100 dollars, the exchange's BTC supply has remained low and fluctuating over the past week, with no significant signs of accumulation.
This phenomenon reflects investors' strong belief in the medium to long-term trend of BTC: in the face of short-term price fluctuations, most holders choose to continue hoarding coins rather than trading frequently. Significantly different from the previous market cycle, in this round, the approval and launch of the Bitcoin spot ETF, along with Trump's policy commitment to establish a BTC strategic reserve, together build a psychological defense line for investors. These significant positive factors not only reshape market confidence but also drive BTC holders' mindset from "short-term speculation" to "value holding", forming a deep logic that supports the upward shift of the price center.