Recently, the Bitcoin market has attracted widespread attention from investors. Currently, large holders of Bitcoin (commonly known as "whales") have begun to shift from the accumulation phase to gradually reducing their holdings. This behavior pattern is consistent with history, as these large players usually start to take profits when there is about a 50% upside potential remaining to the price peak.

When the price of Bitcoin reached 116,000, we observed that large holders began to significantly reduce their holdings. Based on market analysis, I believe Bitcoin still has a potential increase of 20% to 50%. However, this also means that investors should start considering developing an exit strategy.

It is worth noting that large holders of Bitcoin never wait for the price to reach an absolute peak before starting to reduce their holdings, which is completely understandable. Imagine if an investor holds 1000 Bitcoins, they would be more inclined to gradually realize profits rather than trying to sell their entire position all at once at the highest point.

The large holders beginning to reduce their holdings is actually a positive signal, indicating that there is still room for the market to rise. This behavior can not only stabilize the market but also provide opportunities for other investors to participate. However, investors should also remain vigilant, closely monitor market trends, and adjust their investment strategies in a timely manner.

Overall, although the Bitcoin market still has upward potential, investors should act cautiously and manage risks appropriately. While pursuing profits, it is also important to manage risks and be prepared for potential market fluctuations.