Analysis shows that on-chain data indicates sentiment recovery, and the number of BTC liquidation addresses has started to decrease

Data analyst Murphy stated that on-chain data observed signs of sentiment recovery. The number of addresses that shifted from "holding BTC" to "fully liquidated" surged from November 13 to 25, during which the BTC price experienced the fastest and largest decline. The large number of liquidated addresses also reflected the panic and pessimism in market sentiment. However, from December 1 to 18, BTC repeatedly tested the lows, and the number of liquidated addresses began to decrease, which completely aligned with the bullish behavior and sentiment changes indicated by the futures market.