[Analysis: Whales Recently Increased BTC Holdings to Support Prices, but Market Demand Gap Risks Persist] Deep Tide TechFlow reports that on February 11, market data shows Bitcoin whales have accumulated approximately 53,000 BTC since November last year, providing some support for prices. However, overall market demand remains relatively concentrated, raising doubts about whether the market has truly entered a recovery phase. Currently, Bitcoin's price is still down about 40% from its peak in October last year, with some cryptocurrency ETF investors experiencing unrealized losses, while institutional buying has also slowed. Analysts believe that in the absence of broader capital participation, this round of buying is more likely a phase of market stabilization rather than a signal of a trend reversal.