WHALES ARE STEPPING BACK FROM BTC The last major whale activity spike came during the February dip around $60K, where large players were clearly accumulating Since then, whale participation has been gradually declining, while price continues to grind higher That changes the market profile - this rally is now being driven more by retail flow than strong hands Risk is simple - Thinner liquidity underneath When earlier accumulators start taking profits, there may not be enough demand to absorb it cleanly That's it(Gargoyle)