Data: Capital rotation ignores Bitcoin, on-chain support structure continues to weaken

According to on-chain data analysis platform Glassnode, the current consumer confidence index has hit a historic low, yet the stock market continues to reach new highs. Funds are accelerating from cash into stocks, AI, and commodities, while Bitcoin has been significantly overlooked in this round of rotation.

On-chain data shows that the heavy buy order support wall formed below the price has been continuously fading since June, and the bottom support structure is clearly thinning.