"Three-Dimensional Trading System | BTC Evening Market Analysis (2/3): On-Chain Data" Analysis of market participant behavior over the past week and current trends: Whales: Over the past 60 days, addresses holding 10,000+ BTC have accumulated 46,420 BTC. Wallets holding 100+ BTC increased by 39,154 BTC in a single week. Big money is consistently buying. Retail Investors: Wallets holding 0.1-1 BTC show an accumulation trend score of -0.982, nearing an "all-out selling" state. Retail investors have been offloading during the rise to $81,500, while whales are scooping it all up. Long-Term Holders (LTH): The number of BTC transferred to exchanges has reached its highest level since 2026, with SOPR climbing to 1.48, indicating profit-taking continues. Holders of 6-18 months are the most active sellers recently. ETF Spot Institutions: August saw over $3 billion in inflows (strongest month since 2026), but after eight consecutive days of net inflows, Friday marked the first outflow of approximately $200 million. Marginal buying pressure is weakening, though the weekly trend remains positive. Order Book: The $80,500-$80,800 red sell wall has been cleared, while buy support is evident below $78,300-$78,700. The $77,000 level has been tested twice and recovered. On-Chain Data Analysis Conclusion: Whales are buying, retail investors are selling, LTHs are cashing out profits, and ETFs remain net positive but with weakening marginal flows. Tokens are changing hands, and $76,000-$77,000 is the current key defense zone.