#比特币价格走势 The recent Bitcoin volatility data is quite interesting. Based on the distribution of spot order limits, when prices rise, retail investors are frantically buying in, while whales are reducing their positions. When prices pull back, retail investors hurriedly cut their losses, and whales start to accumulate. This contrast couldn't be clearer.

The current market is in a price retracement phase. On-chain data shows that whales are significantly increasing their buying pace, which is a signal worth paying attention to. Retail investors are often driven by emotions during fluctuations—buying high at peaks and selling low at troughs—while whale actions are usually supported by a more complete cost structure.

This doesn't mean whales are always right and retail investors always wrong, but in such oscillating markets, tracking the rhythm of big funds is more valuable than blindly following market sentiment. It is recommended to focus on changes in whale wallet holdings and average purchase prices, as these data often reflect market turning points in advance.