#Strategy加仓BTC What have the big players been up to lately? Bitcoin on-chain data speaks

Observing on-chain movements reveals something interesting — the activity level of large coin holders is clearly declining, and more importantly, their selling pace has also slowed down. What does this usually indicate?

In previous years around this time, whale accounts frequently transferred funds and exited in large numbers. But now, it's different. Based on recent weeks of on-chain data, the number of large transfers is decreasing, and big holders are not showing signs of large-scale exit.

Is this a sign that a bull market is coming? Maybe. When whales stop dumping aggressively, the selling pressure in the market naturally eases. Moreover, from a psychological perspective, silence from big holders often signals the brewing of a new upward cycle.

Of course, drawing conclusions from a single indicator is too hasty. But combined with various data from the past few months, there are indeed some signs of a bull market. $BTC ’s on-chain story is still ongoing and worth paying close attention to.