Today's homework is a bit lamentable. It's not that the market is bad; in fact, BTC's price has been oscillating at a relatively high level, which is not easy. However, the turnover rate in the last 24 hours has been shockingly low. The last time it was this low was before the election. In the past week, there have been continuous positive news, but the help for the price has been somewhat disappointing. In yesterday's homework, I mentioned feeling a bit out of breath, and today that feeling is even stronger.

Such a low turnover also indicates that more investors are very dissatisfied with the current market. There is no interest in buying or selling, which is similar to the long eight-month period of stagnation we experienced before. This situation is not limited to cryptocurrencies; even the U.S. stock market is the same. Overall liquidity is still somewhat poor, especially with high interest rates, the rising dollar index, and the Federal Reserve not cutting interest rates, which means investors' risk appetite will not improve.

So the key point still returns to liquidity. It can be said that if it weren't for so many positive factors supporting the market, we might have returned to $90,000. Currently, it is clear that sentiment is still decent, but the amount of capital is not very strong. If it were during last year's interest rate cut phase, we would probably have exceeded $110,000 by now.

Looking back at the data for #BTC itself, such a low turnover rate clearly shows that short-term investors do not want to act. The daily fluctuations are only around $1,000, which might only make those engaged in quantitative trading happy.

Overall, user sentiment is still good, and there is no dissatisfaction due to the slight price fluctuations. On the contrary, purchasing power continues to rise, and American investors remain optimistic about the long-term development of #Bitcoin.

The data has been updated. Address: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing

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