🐋 #巨鲸动向 #MAX
When the "Ancient Giant Whale" brushes past the "Institutional Giant Whale," do you understand the signal?
Have you been feeling a bit confused by the on-chain data recently? On one side, the address of the "Ancient Giant Whale" suddenly moves after years of silence, while on the other side, ETF funds are showing fluctuations. The market's discourse power is quietly shifting.
Key Transition: The Handover of Old and New Forces
💎Early Giants (HODLer): They are believers in Bitcoin, holding it at a very low cost. On-chain data shows that in 2025, some of these giants are taking profits and transferring chips to newcomers. Their actions are often precise and decisive; for instance, during the market's severe fluctuations on October 10, an early giant successfully captured about $200 million in profit.
💎New Giants (Institutions): This includes Bitcoin ETFs, publicly listed company treasuries, etc. They have absorbed a large amount of early chips, but their demand currently seems to have entered a plateau or adjustment phase. Their behavior is more influenced by macro policies and compliance frameworks.
Insights for Us:
Blindly following the buying and selling signals of giant addresses can be dangerous. It is crucial to understand the motivations behind the behavior: Is it the exit of believers or the turnover of institutions? This reflects the different participants' judgments of the current price levels. Only after the old and new funds have fully exchanged hands at the current position will the market choose a new direction.
Whether it is the steadfastness of early HODLers or the prudence of institutional investors, it stems from a certain belief in long-term value. In the crypto world, another form of "long-termism" is also taking root. Just like #GiggleAcademy , it does not care about short-term fluctuations, focusing only on the long-term returns of education. The volunteers of the #MAX community practice this form of long-termism through offline actions, believing that cultivating a child's future is a more certain investment than any chart analysis. @Max Charity
