In 2021, the Bitcoin market has once again set off waves. Glassnode data shows that Bitcoin stocks have hit a new low this year. The market atmosphere is gradually heating up, and investors are looking forward to the arrival of a real bull market. At this moment full of variables and opportunities, let us delve into the dynamics of the Bitcoin market, analyze its trends, and reveal the stories hidden behind the world of digital currency.

The Bitcoin market has always been one of the focuses of attention in the financial field. With the rise of digital currency, Bitcoin, as the first cryptocurrency, has always played a leading role. Glassnode data shows that Bitcoin stocks have recently hit a new low this year, and this news undoubtedly makes investors excited. However, market fluctuations are only superficial phenomena, and there are more things worth exploring behind them.

Changes in the Bitcoin market are often affected by multiple factors. From the macroeconomic situation to policy and regulatory adjustments, to market investor sentiment fluctuations, every subtle change may affect the trend of Bitcoin. In this digital currency market, information dissemination is as fast as lightning, and market sentiment changes rapidly. It is this rapid change that makes the Bitcoin market an important object of research for investors.

At the same time, the volatility of the Bitcoin market also reflects the uncertainty of the digital currency industry. In this field full of risks and opportunities, investors need to stay vigilant and be ready to respond to market changes at any time. As a well-known investor said: "In the Bitcoin market, risks and opportunities coexist. Only by moving forward cautiously can you keep your wealth."

As the Bitcoin market continues to develop, investors are also constantly adjusting their investment strategies. Some people choose to hold for a long time, believing that Bitcoin will become the digital gold of the future; some people prefer short-term trading to seize market fluctuations to make profits. Whether it is long-term investment or short-term trading, investors need to stay vigilant and be ready to respond to market changes at any time.

On the journey of the Bitcoin market, every investor is a brave adventurer, and every transaction is an adventure. As a senior investor said: "In the Bitcoin market, only by continuous learning and continuous progress can you be invincible." In this world of digital currency, knowledge is power and decision-making is victory.

The fluctuations in the Bitcoin market are only temporary. Only with firm beliefs and unremitting efforts can you be invincible in this world of digital currency. Let us join hands and explore the mysteries of the Bitcoin market together to welcome the arrival of a real bull market. At this moment full of challenges and opportunities, let us witness the glory of the Bitcoin market together and write a new chapter in digital currency!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Glassnode, an on-chain data tracking company, released its latest report, indicating that investors are optimistic about the subsequent rise of Bitcoin (BTC). The average daily withdrawal volume of exchanges is as high as 5,000, and only 12.9% of the circulation volume is still in the exchanges, which is a new low this year. In the past two months, the number of new BTC addresses has increased by 72%. Glassnode concluded that the BTC market is in a mild accumulation stage and subsequent growth is expected.

BTC is in healthy growth and the real bull market is coming

According to the Glassnode report, the demand momentum in the bull market is divided into two stages, namely the hoarding period (Pre-ATH) and the market speculation period (late ATH). Now BTC is in the first stage, which is a healthy growth state.

Glassnode cited a lot of data, pointing out that since August 2021, more than 85% of BTC have been dormant, that is, investors are in a HODL state.
Glassnode also listed the net outflows of major countries, and the results showed that the average withdrawal volume exceeded 5,000 BTC per day, which shows that investors continue to buy and transfer BTC instead of selling it.

Glassnode said that the total BTC holdings of exchanges have dropped to the lowest level this year, accounting for only 12.9% of the total supply. Even when BTC was near the ATH recently, no large number of investors have seen profit-taking.

Glasssnode also pointed out that on-chain activity is slowly recovering, currently about 225,000 transactions/day, which is close to the bear market level of 2019-2020. If the trend of previous years is followed, BTC's on-chain transaction activity will surge again, accompanied by the advent of a real bull market.

At the same time, the total number of BTC addresses has increased by 72% since August. Although this does not mean that a large number of new users have invested in BTC, Glassnode said that this may represent the entry of large institutions on an unprecedented scale, or that users are actively setting up new wallets to earn interest.

Glassnode concluded: There may be occasional activities, large outflows, or operations by experienced investors, but the BTC market is currently in a quiet and stable accumulation phase.

Optimistic view on BTC price

Glassnode is not the only one to make optimistic predictions. For example, the CEO of Pantera
Capital, a cryptocurrency hedge fund, said that after the bear market cycles of 2013-15 and 2017-18, selling sentiment continued to decline, and pointed out that the future bear market will be weaker.

PlanB, an anonymous analyst who proposed the S2F model, predicted that BTC's lowest price this month will be about $98,000, and it will reach $135,000 in December.

Tom Lee, a well-known Wall Street analyst, also stated in a report on October 18 that BTC's year-end price target is set at $100,000, and he believes that it is possible to reach $168,000.