Trust in Bitcoin is an interesting topic. Despite the fluctuations in its price, there are metrics that reflect the market's confidence in this cryptocurrency.
Long-term investors: The sales volume of Bitcoin purchased more than a year ago is low, indicating that long-term investors maintain a confident stance and are not selling their holdings. On the other hand, the number of Bitcoins purchased less than six months ago is minimal, suggesting that most investors are holding positions and increasing their confidence in the cryptocurrency.
Bitcoin inflows and outflows on exchanges: There is a large outflow of Bitcoins from exchanges to investors’ wallets. This suggests that many have no intentions of trading in the short term and prefer to store their Bitcoins in cold wallets. Furthermore, the average value of Bitcoins sold on a given day, relative to the price at which they were purchased, indicates that investors have had positive returns overall.
New Addresses: There has also been an increase in the number of new Bitcoin addresses, suggesting that new investors continue to add confidence to the cryptocurrency world.
In short, despite the market declines, global confidence in Bitcoin remains largely unshakeable.