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In history, BTC whales always accumulate before the top of the bull market (Figure 1) and sell heavily during the most profitable market phase (Figure 2).
The current whales may still be in the accumulation phase.
The upper indicator in the chart represents the price of BTC; the lower indicator represents the total amount of chips of medium-sized whales (also known as "slider whales") with on-chain holdings between 1k and 10k.
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