#中国加密新规 industry insiders pointed out that large traders have hoarded a significant amount estimated to account for 23% of the total circulating supply of Bitcoin. The implications behind this sell-off could be very significant, representing a bearish outlook on Bitcoin prices from seasoned players. However, the CEO of CryptoQuant stated that Bitcoin demand appears to be stable, which is not sufficient to classify the market as bearish.

Tagus Capital analysts noted that the initial disappointment in the U.S. government's strategic Bitcoin reserves affected trading sentiment. Concerns about Bitcoin strategic reserves may have been exaggerated, and the U.S. government may purchase Bitcoin in a manner that does not exceed its budget in the future, while other countries may also accelerate the adoption of Bitcoin as a strategic reserve.