Glassnode co-founder analyzes changes in Bitcoin price structure

On December 26, Glassnode co-founder Negentropic stated that the bitcoin price structure is showing positive changes. The recent pullback has found buying support, previous lows remain intact, and the market is displaying a constructive trend. With the expiration of bitcoin options with a notional value of approximately $23.6 billions, the derivatives overhang has been largely cleared, the price suppression phase has ended, and the price discovery mechanism is gradually returning. Negentropic pointed out that the US M2 money supply has increased by 4.3% year-on-year, the long-term trend of fiat currency dilution has not stopped, and both macro and structural factors are creating a favorable environment for bitcoin.