According to Murphy's Odaily, on-chain data shows signs of market sentiment recovery. Between November 13th and November 25th, the number of addresses switching from holding BTC to completely liquidating their positions surged. During this period, the price of BTC fell rapidly and significantly, reflecting market panic and pessimism.
Subsequently, during the repeated bottoming-out process of BTC from December 1st to December 18th, the number of liquidation addresses began to decrease. This phenomenon coincides with the bullish behavior and sentiment changes in the futures market. In the past 30 days, liquidation addresses were defined as addresses with an account balance greater than zero 30 days ago but which have now cleared their positions, reflecting investors' behavior of completely exiting their positions under price and time pressure.
