The Bit price hovered around the $94,000 range over the past weekend. Although the price did not fall below the critical $92,000 level, there are still no signs of an upward breakout, and the market remains uncertain about the future market trend.

According to data from glassnode, the Bit ownership trend is changing. The proportion of Bit wealth held by new holders (defined as tokens with a term of less than three months) has risen sharply, currently accounting for 49.6% of network liquidity, a trend that highlights the increasing participation of new capital in the market.

This dynamic indicates that new demand is absorbing selling pressure, providing a stabilizing force for the market even in the face of violent market fluctuations. This behavior reflects the widespread confidence in the long-term potential of Bit, with new participants taking advantage of the price decline to establish or expand their positions.

The transfer of Bit wealth from veteran holders to new market participants is often a precursor to the next significant price movement. As Bit continues to consolidate and accumulate momentum, the influx of new capital may become a key force driving the next rally. In the coming days, the market will witness whether the optimism of these new investors can be translated into sustained upward momentum, or whether the market will face more adjustment pressure.

Meanwhile, regarding the recent trend of Bit, the well-known trader and KOL Ansem recently posted on X hinting at buying the dips, stating:

"I feel in me pluns that BTC is going to put in one of those really really nasty grindy looks like its going to breakdown but doesnt lows here @ ~91-92k. Going to get long ahead of inauguration & see if market has overreacted to fed's hawkish language + fear of doj selling."