This data compared to 2022 is very interesting— the structure of new funds entering has changed, and old players should recalculate the chip distribution.

ME News update: On May 15 (UTC+8), analyst Murphy pointed out that newly added Bitcoin buying addresses are injecting momentum into the market by absorbing excess selling pressure. As of the first-time buying address, Bitcoin holdings have reached 3.719 million coins, up by 40,000. This shows that investors’ risk appetite is recovering, comparable to 2022 data. The analyst believes that when new buyers’ holdings exceed 4 million coins, the market structure will be healthier, and a sharp drop or a break below the previous lows is unlikely to happen easily. (Source: MLion)