The crypto market is currently showing a worrying trend with increasing BTC inflows to Binance since November 2023. This indicates that whales or large investors are starting to distribute their assets, increasing selling pressure.

Despite this, the price of Bitcoin continues to rise, indicating that whales may be taking advantage of this increase to realize profits after holding the asset for the long term.

The recent launch of BTC ETFs seems to be a catalyst for large traders to unload their positions at higher prices. This could be the moment for whales to exit, taking advantage of Bitcoin's integration into the mainstream.