Whales acknowledge losses and leave, this is a signal. The giant whale sold 800 BTC (approximately $50.24 million) today, and after holding for 7 months, it ultimately lost approximately $35.3 million and left the market. Seven months ago, he opened a warehouse around $106866. Now at $62800, with a loss of -41%, it is about equivalent to a top tier tycoon's "surrender letter". This address had been dormant for a long time in the past year, but suddenly activated in November 2025 and bought 800 BTC in large quantities, which was considered a landmark event of "institutional bottom fishing" at that time. Now that this batch of chips has been returned to the market, it declares that the judgment has completely failed. My personal opinion is: This is a typical 'panic whale', not a 'smart whale'. Truly intelligent money will be raised in panic and distributed in frenzy. However, the behavior of 37BnFF is exactly the opposite - entering at a high level and cutting at a low level, a textbook level "chasing the rise and killing the fall". Based on the market outlook, the short-term floating losses of the giant whale have expanded to about 16.5 billion US dollars, with a cumulative loss of over 2.5 billion US dollars, and the inflow into the exchange continues to be high. This indicates that the pressure is not limited to this one company. 60000 is currently the most crucial watershed. If the buying market holds, BTC has a chance to retest 63500; If the volume falls below, there may be a new round of liquidation stampede, falling towards 55000 and then to 45000 Whale stop loss is not a 'confirmation signal' at the bottom, but a warning that 'pressure is still being released'. This whale Temporarily stopping losses and leaving the market in the short term is also a wise and helpless move. The real bottom of this Bitcoin bear market is highly likely not to be around 60000, but around 45000. Patiently wait for a bear market bottom to appear before buying, estimated to occur around October this year. To truly capture the bottom of a bear market, wait, one word! Bitcoin BTC 3D Integrated Trading Analysis Cryptocurrency BTC Market Analysis