Must-see: Whales’ layout emerges, which tokens will benefit?

With the launch of Bitcoin ETF, the influence of miners has gradually weakened, and the market focus has begun to shift to external factors such as ETFs and CME. At the same time, the accumulation behavior of whales on exchanges has begun to appear more critical, and the operations of these large holders are more worthy of attention than the movements of small-cap coins.

An interesting phenomenon is that if the 4-year moving average of "Supply in Profit %" is introduced, it can provide the market with a clearer reference to the support level. The 4-year moving average usually represents a long-term trend, especially when the profit supply rate is below this level, it often indicates that the market may enter a rebound phase.

From this trend, $BTC is naturally the biggest beneficiary, especially driven by Bitcoin ETF. As the market's interest in ETFs increases, Grayscale Trust products such as $GBTC may also benefit in terms of liquidity and discount repair. In addition, any tokens closely related to the Bitcoin ecosystem, such as $ETH, a core asset that supports DeFi and decentralized applications, are also expected to follow the trend of Bitcoin.

For DeFi projects, especially those that intersect with traditional financial instruments such as CME and ETFs, such as $AAVE and $COMP, they may also find new opportunities from this round of market structure changes. After all, the attention of market participants is gradually turning to larger trends, and the behavior of whales is often a weather vane.