Odaily Planet Daily News CryptoQuant founder Ki Young Ju posted on the X platform that the current market volatility is just a game in the futures market. Real whales drive BTC up through spot trading and OTC markets. So on-chain data is crucial. Diamond hand whales have not received particularly high returns, and whales that entered the recent bull market have made almost no profit. They are unlikely to sell on trading platforms before the liquidity of retail investors begins to flow in. In addition, new whale addresses are hoarding BTC almost crazily, and the BTC market has never seen such hoarding behavior. Some people believe that new whales are mainly generated by ETF inflows, but recent hoarding behavior shows that these new whale addresses have little correlation with ETFs.