The selling pressure from early players actually has nothing to do with us retail investors.

There are always people saying that retail investors become the exit liquidity for them, but those who truly understand the market know that the real targets of early players’ sales are never us, but rather those institutions waiting at the door with terrifyingly large amounts of capital. Whether we buy or not doesn’t affect their pace at all.

The core issue isn’t whether they sell, but how much longer they can keep selling.

Institutional demand is continuous, stable, and unwavering. However, the chips held by early whales are limited and are being gradually absorbed. When the forces on both sides eventually cross paths, the price logic of Bitcoin will completely change tracks.

No one will announce that moment, nor will there be any advance warning.
It will only be when you look back one day that you realize the early chips have already been cleared out, and a new pricing mechanism has quietly begun to take effect.