Willy Woo's Bombshell: Bitcoin not breaking through? Wrong! It's early players cashing out 10,000 times profit! Your dream is just their chips!
The massive scale of historical returns is becoming a unique price resistance band in this round of Bitcoin cycle.
Crypto analyst Willy Woo recently made a key observation: the core reason for the current slowdown in Bitcoin's rise is the profit-taking behavior of early whales.
These holders, who built their positions at a cost of less than $10 around 2011, now require the market to consume over $110,000 of new funds for every Bitcoin they sell.
This extreme cost difference and large holding size create a supply pressure that the market struggles to digest quickly.
From the perspective of market microstructure, I believe this actually reveals a transition phase for Bitcoin from 'whale dominance' to 'institutional balance'.
The demand for early investors to cash out their tenfold profits, coupled with the allocation needs of emerging institutional investors (such as ETF buying), is forming a special game-theoretic balance.
A typical case is the recent continuous inflow of Bitcoin ETFs that have struggled to push prices to break previous highs, which precisely corroborates the tug-of-war situation between whale distribution and institutional accumulation — the market needs time to digest this generational holding, similar to the process where the Mt. Gox trustee's selling pressure was gradually absorbed during the 2017 cycle.
Perhaps we are witnessing the pain period of the last large-scale transfer of low-cost holdings in Bitcoin's history.
As this batch of holdings gradually changes hands to new investors with a higher cost basis, market stability will significantly increase.
Do you think the real signal for the next cycle to start will occur when the concentration of whale wallet addresses drops to a certain critical value? #杰克逊霍尔会议
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