Analyst: This round of market movement is driven by institutions/ETFs/nations and cannot be compared to past cycles.

According to Deep Tide TechFlow news, on January 6, cryptocurrency analyst Miles Deutscher stated on social media that although BTC is approaching $100,000, on-chain trading demand for BTC is sharply declining towards historical lows.

He pointed out that this round of market movement is driven by institutions/ETFs/nations, so it is not possible to truly compare this cycle with past cycles.