BTC On-Chain Observation for the First Week of December: Buying Continues, Market Sentiment Remains Stable

Recently, I’ve been closely monitoring the changes in BTC balances on exchanges—this tells us more than candlestick charts ever could. Over the past two weeks, BTC prices have indeed underperformed, but interestingly, exchange balances have consistently decreased.

What does this indicate? Someone is buying.

Looking at the exchange balance trends over the past year, there’s always a group quietly accumulating every time the price pulls back, and this time is no exception. There’s no sign of panic selling; instead, it feels like seasoned players are building positions in batches. The market might not be as fragile as you think.