【 CryptoQuant Analyst: Recent Rally in the Crypto Market Driven by Market Makers】CryptoQuant analyst Dan Lim stated that by observing the changes in the distribution of UTXO (Unspent Transaction Output) values when prices rise or fall, it can be inferred whether the market is driven by whales or retail investors. During the recent rally in the crypto market, the distribution trends of UTXO values were as follows: 10~100BTC: No change 100~1KBTC: Decrease 1K~10KBTC: Decrease Over 10KBTC: Significant increase This indicates that the market's rise is due to whales holding over 10,000 BTC buying BTC, meaning the recent rally was driven by market makers rather than retail investors. However, Dan Lim added that it is currently unclear whether the market makers' purchases are to initiate a bull market or a brief rebound. #加密市场反弹