On-chain close all positions data reveals a shift in market sentiment: A comprehensive view of BTC investor behavior

[Chain News] Recently, there has been an interesting phenomenon: on-chain data shows that market sentiment is slowly recovering.

Let's take a look at the specific data. Extract the addresses that changed from having BTC holdings to completely liquidated within 30 days. This actually reflects the behavior of investors choosing to sell everything under the dual pressure of price and time.

In mid-November, from the 13th to the 25th, the number of addresses liquidating suddenly increased significantly. During this time, BTC also experienced its sharpest decline, with the largest drop in price and the fastest speed. Behind those piles of liquidating addresses is actually the pervasive panic and bearish sentiment in the market. Investors were trapped and their mentality collapsed, choosing to cut losses and exit.

But an interesting turn has come. After entering December, although BTC is still testing the bottom repeatedly, the number of clearing addresses has begun to gradually decrease. What does this indicate? It indicates that not so many people are in a hurry to sell off. The pessimistic sentiment in the market is slowly fading, and investors are no longer so impatient to escape.

This is what on-chain data can tell us - it's not just about watching price fluctuations, but more importantly, it's about observing the actual actions of the investors behind it.