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What drive BTC price vs. value?

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Every day, tons of information are flowing around. Most of the times, we get conflicting signals. Some are bullish, the others bearish. So how to view them in a simplified way? The chart above is our method.

What’s your view? Do you agree or disagree? All thoughts and critics are welcomed!
注释
There are two group of people in the crypto space: long-term investors and short-term speculators. One often overlooked fact is while short-term speculators dominate the actively daily traded BTC, long-term investors actually dominate the entire BTC holding. Understanding how these two groups contribute to BTC value and price separately is crucial in profiting in the long run.
Who drive BTC Price vs. Value?
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