#比特币持仓与投资 Recent changes in Bitcoin's chip structure are worth paying attention to. From the data, long-term holders are engaging in large-scale distribution, especially selling off chips in the $60,000-$70,000 range, which are mostly old positions accumulated before the US election.

Meanwhile, the bulls have not given up; instead, they are re-accumulating in the $90,000-$100,000 range. The open interest in perpetual contracts has increased from 304,000 BTC to 310,000 BTC, and the funding rate is also rising. This creates an interesting confrontation: on one side, profit-taking traders are eager to cash out, and on the other side, new bulls are continuously entering the market.

The key is to watch the "gap zone" between $70,000 and $80,000 — currently, only 190,000 BTC remain at this price. If the price really drops here, it could trigger strong support. In the short term, this range will be an important observation window. For us, rather than worrying about the overall market trend, it's better to focus more on airdrop opportunities from new projects, completing interactions with minimal costs. This way, regardless of how the market moves, we can still gain something.