Good news: The major players in the US and Europe are active again Bad news: They're here to sell According to AiCoin's 'Large Transactions' tracker (≥$5M orders), from June 1 to now: - Coinbase whales: Sold a total of $107M in BTC, with a net sell of $44.99M - Kraken whales: 100% of large market orders were sell orders, unloading $59.53M in BTC What's more critical is that Coinbase BTC has maintained a negative premium for a whole month—whales would rather sell at a discount than buy at a premium Are these concentrated sell-offs by the whales clearing the way for the next wave, or are they really trying to crash the market to a panic bottom?