Monero's recent market movement has been quite interesting. Looking at on-chain data, 94 bullish whales are facing off against 56 bears, with the holding value ratio even more dramatic—17.7 million versus 9.4 million, with the bulls holding the advantage. More importantly, the entry cost for the bullish whales was only $489, and now the price is $695, with unrealized gains exceeding 40%. When will these big players start to sell off? No one really knows.

On the bearish side, the average cost is $598, and they are currently losing money. But their numbers are so small that they can't create waves. From the nominal long-to-short ratio, a value of 228% indicates that retail investor sentiment might be a bit overextended. The price has dropped significantly from the 24-hour high of $800. The current situation is quite clear—smart money has already eaten their fill, while retail investors are still chasing higher prices. It's easy to be bullish, but the real challenge is guessing who is preparing to sell.