Long-term Bitcoin holders sell nearly one million coins in 30 days, while whales are aggressively accumulating: Is this a bullish market turnover signal or a risk warning?

【ChainNews】Recent on-chain data shows an interesting contrast — over the past 30 days, early Bitcoin whales have collectively sold nearly 1 million BTC, the highest record ever. Sounds like a crash? Don’t worry.

During the same period, “shark-level” buyers in the market have been aggressively accumulating, with a net purchase of 269,822 BTC. This number is also astonishing — the largest single-phase accumulation in the past 13 years.

What’s truly interesting is what these two events together imply. History tells us that this kind of “old money exiting, new money entering” scenario is usually not a market top signal; instead, it indicates that we are entering the handover phase of a bull market. In other words, wealth is being redistributed, and the market’s dominant forces are quietly shifting.

What’s next? Volatility is expected to increase significantly, as the competition between new and old funds will inevitably create more price fluctuations. But this kind of volatility is a reflection of market vitality, not a warning sign.