The current selling pressure is not what everyone imagines as 'smart money fleeing,' but rather a more fundamental structural turnover.

The old players with over 7 years of experience are almost completely unmoved. Those who can hold from a few hundred dollars to one hundred twenty-four thousand dollars are not living for short-term fluctuations. They remain as fixed as a mountain on-chain, indifferent to how the market is stirred.

The real outflow of chips comes from medium-term holders who entered the market in the past few years, cashed out a portion at high points, and are now selling again as prices pull back and continue along the trend. The movement of about three hundred thousand coins is this group adjusting their positions. It is not a panic escape but rather executing their own rhythm.

What seems like 'panic selling' in the market is more like weak hands being forced into a localized surrender. Inertia is amplified, emotions are magnified, but the structure remains intact. The steadfast wallets remain unmoved like a mountain, and the overall situation on-chain remains stable, only the prices are going through the necessary cleansing.

At such times, it is easiest to confuse others, and it is also easiest to achieve the next cleaner trend. #BTC #ETH走势分析 #美联储重启降息步伐