## On-Chain Data Reveals Major Shift in Holder Structure, BTC Market Risk Escalates
Bitcoin on-chain data has shown significant changes in recent periods. According to CoinMarketCap statistics, since entering October, more than 400,000 BTC have flowed from seasoned holders to newly entered addresses, marking a cycle high in transfer scale. Meanwhile, BTC exchange inflows remain elevated, with current prices fluctuating around $90.51K, having touched the $85,000 mark at the beginning of the month, reflecting evident market sentiment instability.
**Risks Behind Market Structure Transformation**
Bitcoin on-chain data has shown significant changes in recent periods. According to CoinMarketCap statistics, since entering October, more than 400,000 BTC have flowed from seasoned holders to newly entered addresses, marking a cycle high in transfer scale. Meanwhile, BTC exchange inflows remain elevated, with current prices fluctuating around $90.51K, having touched the $85,000 mark at the beginning of the month, reflecting evident market sentiment instability.
**Risks Behind Market Structure Transformation**
BTC1.57%