The legendary whale Spoofy, with a position size of up to $6 billion, has begun to reduce his holdings again. This is the second time he has acted in three days, selling approximately 10% of his position. From past operations, it appears that he typically reduces his holdings at stage highs, rather than insisting on selling at the peak.

For example, last November, he started to gradually reduce his holdings from around $90,000 for Bitcoin, and continued until he sold everything at $105,000. This indicates that he values overall returns more than precisely timing the market top.

This reduction in holdings does not necessarily mean that the market will peak immediately, but it does release a signal: the current price may be close to the high range of this round of market activity. We may see mainstream coins oscillating at high levels next, with some altcoins taking the opportunity to catch up, but in the short term, the entire market may have already entered the latter half.