Long-term holders are distributing their #BTC , which is common during a bull market.
Chip redistribution is a necessary process to enter a bull market, and the entire market has been cycling like this:
Old whales --> New whales
New whales --> Retail investors
Retail investors --> Old whales
Recently, #BTC the price increase has prompted long-term holders (old whales) to sell #BTC , although this has increased selling pressure in the short to medium term, in all previous cycles, this type of selling has lasted for several months and is not a signal of a peak.
