$BTC As displayed in the graph, the largest investors in the sector, the"mega whales" holding more than 10,000 $BTC

, have interestingly been

selling since September, with the distribution turning particularly heavy in the last couple of weeks. The rest of the cohorts were buying during the rally, but even they have taken to selling recently. The whales

, holders who own between 1,000 and 10,000 $BTC , are taking part in a particularly strong amount of selling right now. It's possible that as long as the blue color doesn't return to this chart, Bitcoin would be stuck in its current bearish trajectory.