Have #Bitcoin Whales Finished Selling?

Old Whales have significantly reduced their holdings after the distribution phase at the historical peak of 2025.
Large-scale profit-taking events are no longer occurring with the same frequency as before.
After the distribution process is complete, the supply of low-cost assets putting pressure on the market has also significantly decreased.
With the amount of $BTC on exchanges remaining low and selling pressure from long-term holders weakening, the market will depend more on its ability to attract new capital to form the next trend.
In other words, the biggest obstacle of the previous cycle is gradually disappearing. The remaining question is: when will new capital return?