Viewpoint: In the past half month, the "10,000 coins" level Bitcoin Whale group has accumulated an increase of 68,030 BTC.

On November 21, according to analyst Murphy, from November 4 to November 20 over the past half month, the main distribution force among whale groups came from those holding less than 100 BTC. For instance, wallets holding 10-100 BTC collectively reduced their holdings by 24,911 BTC. The main accumulation force came from the largest group, the super whales holding 10k-100k BTC, who collectively increased their holdings by 68,030 BTC. This group began to continuously reduce their positions after reaching a peak in holdings last July, until mid-October this year when BTC fell below $106,000, at which point they started increasing their holdings again. The actions of the whales indicate that they believe the current price of BTC has a certain value proposition. However, their accumulation may not immediately support the price in the secondary market. Historically, the behavior of whales often represents a process, and they don't always buy at the lowest points and sell at the highest. But over a longer time frame, they are rarely left behind.