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Earlier this year, when BTC dumped around $75K zone, 'Big Whale' spot orders were extremely active. Retail was panic-selling into that weakness.Whales accumulated cheap. Then from June to October, as BTC pumped above $120K, the entire order profile shifted to grey meaning whales stopped buying aggressively. They let the price run while distribution quietly happened into strength. Now look at the current data: BTC is back near the $85K -$95K range and 'Big whales' are buying again, while retail is back to selling. Same pattern. Same script. Now let’s see if the game plays out the same way.