Whale capital flows continue to dominate the market structure, with the $50,000-$80,000 price range becoming a crucial capital base for the cycle.

Data from #HCCVenture shows that #Bitcoin is still being led by Big Whale Orders, while the trading volume of retail investors continues to decline significantly.
- The $50,000 to $80,000 price range is emerging as the main accumulation area for large-scale orders, forming a crucial cost of capital base for the entire current market structure.
Institutional capital participation has become the main driver of the market, significantly replacing the role of small-scale speculative capital flows that dominated previous cycles.
Having been absent from the market for over a year, these whales have resumed buying Bitcoin in the Average Cost Price of Big Whale Orders range ($50,000 to $80,000).
The fact that the majority of institutional liquidity is generated in this range is particularly significant.