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Based on on-chain data, what have the large holders with 1,000 to 10,000 Bitcoins been busy with recently? The answer is selling. These medium-sized BTC whale addresses have recently reduced their holdings by 22,000 Bitcoins, the fastest pace since early 2023.
Interestingly, history is actually repeating itself. During the period from 2021 to 2022, a similar phenomenon of large holders concentrating on reducing their holdings also occurred. And after that? The price surged to a historical high.
Of course, history won't be an exact replica, but such changes in holding flow are usually signals that are not to be ignored. Every move by the large holders is watched by the market.