On-chain data shows that since April 4th, long-term holders have accumulated an additional 339,000 BTC, bringing the current total supply of LTH to 14.3703 million.
In terms of market conditions, Bitcoin is maintaining a sideways trend on the right, with downward momentum diminishing. The supply-demand pattern shows that selling pressure is being effectively absorbed. After a major adjustment, there is strong upward momentum, and the narrow fluctuations at a smaller level indicate solid double-bottom support. Once broken, it is expected to challenge historical highs, with a higher probability of setting new highs in the medium to long term.
ETH shows significant correlation with Bitcoin and may regain market leader status after the adjustment.
Altcoins are generally following the mainstream rhythm, and once the adjustment is complete, capital activity is expected to rebound, while Bitcoin's market capitalization ratio may show a downward trend.
The current Fear and Greed Index is 71, indicating that market sentiment is leaning towards optimism.