THIS
$BTC SIGNAL HAS PRECEDED EVERY MAJOR RALLY 👀
Large $BTC holders (1K to 10K $BTC) are accumulating again.
Historically, this cohort distributes near cycle tops... and reloads during corrections before the next leg higher. The same pattern is showing up now. After the recent pullback, whale balances are starting to climb again -- very similar to what we saw in early 2023 when this cycle kicked off.
At the same time, leverage across derivatives markets is cooling. Open interest is dropping, funding has normalized, and the Coinbase premium is turning positive again -- a signal that spot dem