#晒出我的持仓收益# About BTC On-Chain Data: Holder Behavior and Market Sentiment

Long-term holders sell (LTH)
①Profit realization: When the cost of holding LTH is (, if it is below 20,000 US dollars, ) there is a significant cash-out at the high point of 100,000 US dollars, and the on-chain transaction volume sharply increases;

② Exchange inflow: The number of BTC transferred to the exchange increased by 30% on a weekly basis, indicating short-term selling pressure.

2. The derivatives market is overheated
①Funding Rate for Futures: The perpetual contract funding rate remains positive and above 0.1%, leading to crowded long positions and accumulating liquidation risks;

②Options Put/Call Ratio: surge in demand for put options
( ratio>0.7), hedging against the expected decline.