Wu Shuo learns that, according to the latest weekly report from Glassnode, Bitcoin market momentum has surged 51.7%, breaking previous highs. Spot buying is aggressive, and ETF demand is strong, with futures open interest (OI) rising 7.2%, but funding rates have turned negative, indicating that speculators are beginning to hedge. On-chain data shows that although active addresses have slightly decreased and entered consolidation, the dominance of long-term holders has increased, and short-term sensitive capital has decreased. Currently, the proportion of circulating supply in profit has risen, easing market pressure, and the overall market exhibits a strong bullish sentiment with characteristics of shifting toward higher stability.