Analysis: In the past 30 days, long-term holders have sold nearly one million BTC, and the large-scale acquisition of new funds may indicate a transition phase in the bull market

According to on-chain data analysis by Alpha Updates, long-term Bitcoin holders sold nearly 1 million BTC in the past 30 days, setting a new historical high. Such large sell-offs typically occur in the later stages of a bull market, as early investors begin to take profits.

During the same period, "Bitcoin shark" addresses net bought 269,822 BTC, marking the largest scale of concentrated accumulation in 13 years. This phenomenon of "old money exiting, new money entering" usually signifies that the market is entering a bull market rotation phase, rather than a top signal. It is expected that volatility will increase in the future, with the dominant forces in the market gradually shifting.