ChainCatcher reports that, according to on-chain analyst Murphy (@Murphychen888), the average USD value of a single Bitcoin on-chain transaction decreased from $46,610 on December 14 to $24,897 on December 30, a decline of nearly 47%. During the same period, Bitcoin’s price remained roughly within the $87,000-$88,000 range.
Data shows that Bitcoin chip concentration has remained almost unchanged from December 25 to 30, currently holding at 14.4%. Murphy pointed out that this phenomenon indicates a decline in the enthusiasm of large funds to participate in turnover, possibly related to American investors being in holiday mode, leading to a temporary decrease in market liquidity.
Analysts say that as liquidity gradually recovers, two scenarios usually occur: 1. Chip concentration continues to rise until it reaches a critical point, then suddenly drops sharply; 2. Chip concentration directly drops sharply.
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