According to EmberCN, a whale or institutional investor transferred 1,485 BTC worth $138.83 million to Binance 30 minutes ago. Over the past 11 months, they have realized a profit of $50.13 million on Bitcoin. Initially, they withdrew 5,700 BTC from Binance at an average price of $80,449. Two months ago, they began moving BTC back to Binance for sale, with the latest 1,485 BTC being the final batch. This indicates a strategic profit-taking move by the investor.

According to Glassnode, Long-Term Bitcoin Holders (LTH) remain generally profitable, yet as BTC top buyers transition into LTH status, the potential for increased loss absorption emerges. Historically, such transitions have signaled the onset of a bear market, although current data shows no definitive indication of this trend.