Data: Retail investors continue to increase their Bitcoin holdings, but whales are reducing their positions, which may limit the rebound potential

The current Bitcoin price fluctuates in the mid-$60,000 range. Market views suggest that retail buying can provide some "bottom support" for the market and bring short-term momentum, but to form a sustainable rebound, large holders need to stop distributing and even turn to net buying.

Analysis indicates that there is currently no lack of retail participation in Bitcoin; the key is whether the whales will stop selling pressure and shift to structural buying. Otherwise, each rebound may face the risk of being sold off at high levels.