Recent market movements reveal underlying trends:
Trend 1: Fundamental shift in market structure - from speculation to utility, the retail-led cycle is gradually ending, ushering in the institutional era:
- Net inflow of Bitcoin to exchanges has dropped to the lowest in three years, indicating short-term speculators are gradually exiting.
- Single-day net outflow of Bitcoin reaches 14,484 coins, showing a market transition from retail to institutional liquidity.
- Market narrative is undergoing a deep transformation, evolving from simple store of value to a multi-functional application platfor
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