BTC: Summary of Valuescan community discussions (22:00:09 ~ 23:00:09)

[Extracting viewpoint materials] Retail investor participation was extremely low. Data shows that small-scale transactions decreased by over 66%, the number of active addresses continued to decline, and Google searches for keywords such as "Bitcoin" fell to historical lows. Retail investors net sold approximately 247,000 BTC, reflecting that they either took profits at the peak or exited the market due to losses. [src: @Valuescan, 2025-12-28 22:59:30/#1582740；ref: window] The Fear & Greed Index has remained in the "Extreme Fear" range (20-30 points) for an extended period, indicating extremely low retail investor sentiment and virtually no FOMO (Fear of Missing Out) driving buying. [src: @Valuescan, 2025-12-28 22:59:30/#1582740；ref: window] Institutional holdings have increased to over 24%, with institutions continuously buying through ETFs, corporate treasuries (such as MicroStrategy), and sovereign wealth funds. The Bitcoin market is dominated by institutions, who actively buy the dips when retail investors sell, driving a 59% increase in large-volume trading volume. [src: @Valuescan, 2025-12-28 22:59:30/#1582740；ref: window] The current market is experiencing weak overall trading activity, declining spot trading activity, frequent leveraged liquidations (daily liquidations exceeding $1 billion), and over 80% of new project token offerings (TGE) falling below their initial offering price. Sectors favored by retail investors, such as MEME, are facing liquidity shortages. The market is shifting from retail speculation to institutional allocation, resulting in high volatility but lacking the explosive power driven by retail investors. [src: @Valuescan, 2025-12-28 22:59:30/#1582740；ref: window] In terms of the macroeconomic environment, weakened expectations of a Fed rate cut and higher-than-expected inflation data put pressure on risk assets. The increased correlation between the crypto market and stocks and AI stocks (correlation coefficient reaching 0.5) further dampened retail investor speculation. [src: @Valuescan, 2025-12-28 22:59:30/#1582740；ref: window] Institutions are focusing more on fundamentals and macro asset allocation rather than short-term speculation, indicating that the flow of funds in the Bitcoin market is becoming more rational and stable. [src: @Valuescan, 2025-12-28 22:59:30/#1582740；ref: window] The community member's comment, "If ZEC is so strong and BTC is doomed," reflects some users' concerns about BTC's market performance and suggests potential disagreement regarding Bitcoin's future trajectory. [src: @Valuescan, 2025-12-28 22:34:49/#1582618；ref: window]