#晒出我的持仓收益 #晒出我的持仓收益 On BTC on-chain data: holder behavior and market sentiment

1. Long-term holders sell (LTH)
①Profit Realization: When the cost of holding LTH is (, it will result in a significant increase in on-chain transaction volume if it is cashed out heavily at a high level of 100,000 US dollars, with a cost of less than 20,000 US dollars.
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 long leverage crowding and accumulating liquidation risk;
② Option Put/Call ratio: surge in demand for put options
) rate>0.7(, hedging the expected decline.