I found it interesting to observe on blockchain data — the February correction of Bitcoin showed a classic market split. Retail investors were simply liquidating their positions at a loss, with losses exceeding $3 billion. This is typical capitulation, when small players panic during volatility.

But whales acted completely differently. At the same time, addresses holding more than 1,000 BTC were actively accumulating — they bought about 270,000 bitcoins over the month. The volume of this corrective purchase is estimated at around $23 billion. They clearly saw the decline as an opportunity, not a reason to panic.

This dynamic is quite indicative. When retail investors are massively in the red, large holders step in — a classic pattern. Market analysts point out that the current correction is caused by overleveraging, not fundamental problems. It turns out whales understood this and were simply waiting for the right moment. For them, the correction isn’t a crash, but a regular discount buy.