Bitcoin on-chain selling pressure significantly eased, Fed rate cut may boost a rebound

According to CryptoQuant analysis, the Bitcoin market has experienced a notable easing of selling pressure over the past few weeks, which could lay the foundation for a price rebound.

The report points out that several key on-chain indicators show that investors, especially large traders, have sharply reduced the amount of Bitcoin deposited into exchanges, which is a core signal of weakened market selling pressure.

Data shows that the total deposit volume on Bitcoin exchanges has dropped from an average of about 88,000 coins daily in mid-November to around 21,000 coins currently.

This downward trend coincides with Bitcoin's price rebounding from a low of $80,000 to a high of $94,000, indicating a reduction in circulating Bitcoin supply in the market, potentially driving prices higher.

Moreover, the proportion of deposits from large traders (whales) has fallen by more than half from its peak, and the average deposit size has also shrunk. This trend aligns with the decline in overall exchange deposits, further suggesting that the market may face a "supply shock."

Analysts believe that the easing of selling pressure is due to investors having recognized and digested existing losses. About a month ago, new and old whales experienced the largest single-day loss since July, totaling $645 million, after which this group accumulated losses exceeding $3.2 billion.

Simultaneously, short-term holders have been selling assets for four consecutive weeks at a negative profit rate (SOPR below 1). Historically, when market participants broadly recognize and accept significant losses, panic selling usually exhausts itself, creating conditions for market bottoming.

On a macro level, the recently concluded Fed FOMC meeting announced a 25 basis point rate cut. This shift toward easing monetary policy may provide additional liquidity expectations for risk assets like Bitcoin, further strengthening market optimism.

In summary, on-chain data indicates that Bitcoin's market selling pressure has significantly eased, and investor sentiment has shifted from panic selling to loss digestion.

If the low selling pressure persists and combined with the market stimulus from rate cuts, Bitcoin is expected to establish a bottom after digesting the current price levels.

The market is also likely to transition from a "surrender-style sell-off" phase to a balanced recovery driven by new funds and holder confidence.

#链上数据 #Market Analysis