During the adjustment process, the stable chip structure of Bitcoin has not been destroyed, and the market's carrying capacity is still very strong. The main reasons are as follows: 1. CoinAnk data shows that during the most violent period of the market decline from July 3 to July 5, whale users holding 10K to 100K Bitcoins not only did not reduce their holdings, but instead increased their holdings by 34,890 Bitcoins against the trend. The scale of the increase in these three days is almost equivalent to the total increase in June. This reflects that the determination of the super main force to hold together has not wavered at all. 2. After Bitcoin fell below $55,000, the Bitcoin ETF in the US stock market saw a net inflow of $147 million, which was the largest single-day net inflow in the past month. At the same time, the premium rate of USDT also soared from 0.24% to 1.76%. This shows that funds began to buy at low prices. 3. The bullish sentiment in the derivatives market quickly warmed up. First, the trading volume of call options was aggressive, with millions of buy orders appearing frequently, and the ratio of call options to put options narrowed from the highest 1.78 to 1.36. Secondly, the funding rate of futures perpetual contracts also quickly turned from negative to positive.
