Analysis: On-chain data shows sentiment recovery as the number of BTC liquidation addresses begins to decrease

BlockBeats News, December 21, data analyst Murphy stated that on-chain data shows signs of sentiment recovery. The number of addresses that shifted from "holding BTC" to "completely liquidated" surged between November 13 and 25, during which BTC experienced its fastest and largest price drop. The large number of liquidated addresses also reflected the market's panic and pessimism.

However, during the period from December 1 to 18, BTC repeatedly tested the bottom, and the number of liquidated addresses began to decrease, which fully coincided with the bullish behavior and sentiment changes observed in the futures market.