Have the Bitcoin whales fled?
We can intuitively see from the on-chain data that Bitcoin is currently in a red outflow state, meaning a large amount of coins have been bought by whales and withdrawn from exchanges, resulting in a decrease in exchange inventory.
However, in the short term, buying pressure has indeed diminished, but it is far from the green selling zone. This red buying pressure generally occurs during an upward trend and at the bottom of coin prices, often followed by a significant rally.
So, the cryptocurrency market is currently just entering the dual holiday period; Wall Street is vacationing in Florida. Once these people return in early January, I believe the cryptocurrency market will restart.
Therefore, there is no need to panic; be patient and await the return of the main players!
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