Bitcoin Transaction Data Real-Time Monitoring and Analysis

As of 00:07 (Beijing Time) on December 4, 2025, the Bitcoin market presents the following key data:

📊 Current Market Data and Price Performance:
Current Price: $92,189
24h Change: +1.19%
Market Cap: $1.84 trillion (firmly ranked first in the cryptocurrency market)
24h Trading Volume: $86.08 billion

🔍 On-Chain Data In-Depth Interpretation of Market Sentiment Indicators:
According to the latest on-chain data, the Bitcoin market is at a critical turning point:
Capitulation Indicator Hits All-Time High
This indicator is based on cost basis distribution. Historical data shows that when this indicator reaches an extreme, it often signals a market bottom. This suggests a large number of investors have exited at lower prices, creating room for a subsequent rebound.

Funding Rate Turns Negative
The funding rate in the perpetual futures market has recently turned negative, indicating that short demand exceeds long demand and the market sentiment is cautious. However, such extreme fear is often a contrarian indicator.

Position Structure Changes
For weeks, the accumulation rate among long-term holders and large wallets has slowed significantly, especially after dropping below $84,000 on December 1. In contrast, small wallet holders have accelerated buying during price drops, indicating retail investors are buying the dip.

📈 Recent Trend Characteristics Price Volatility Analysis:
Bitcoin has dropped about 18% over the past three months
Recently reached a two-week high with a single-day gain of nearly 7%
On November 21, it plummeted to around $82,000
In October, it once broke above $126,000

Trading Volume Changes:
Current average daily trading volume remains in the $80-90 billion range, down from historical highs but still at a relatively healthy level, indicating ample market liquidity.

💡 Professional Judgment
Based on institutional holdings and on-chain data, the current market is not entering a "crypto winter." Key evidence includes:
MVRV (Market Value to Realized Value Ratio) remains within a reasonable range
Realized losses are at moderate levels, with no signs of extreme panic
Institutional funds continue to flow in, showing professional investors are still deploying capital

Technical Note:
Currently, Bitcoin has deviated significantly from the 4-hour standard line of $89,923. Be cautious with short-term chasing; it is recommended to wait for a pullback opportunity.

⚠️ Risk Warning
Although the market has seen a technical rebound, sentiment remains fragile. It is advised to closely monitor:
Whether the funding rate continues to turn positive
Whether long-term holders resume accumulating
The effectiveness of breaking through the $95,000 resistance level

Please note, all investments carry risks. Investors should make their own decisions and bear corresponding responsibilities.