Large holders are stepping back into action. The Exchange Whale Ratio has moved above both its 30 day and 365 day averages, pointing to a clear increase in whale activity. At the same time, wallets holding between 100 and 1,000 #BTC now make up roughly 80% of total exchange inflows.

Market flow is no longer driven by smaller participants. Instead, bigger players are taking control, which often leads to sharper moves and increased volatility. When this level of capital starts entering exchanges, it usually signals that something bigger is building beneath the surface.