A recent phenomenon worth noting is that the transfer volume of Bitcoin from large holders to a major exchange has significantly shrunk in December.

Numbers speak for themselves. Monthly whale inflows dropped from approximately $7.88 billion to $3.078 billion, cutting in half in just a few weeks. This is not a minor fluctuation but a warning signal. After all, everyone knows how much influence these big players have on the market with their every move.

However, this trend hasn't locked the market in place. Recently, in the range of 100 to 10,000 BTC, a capital influx of $466 million has emerged. Among them, large orders between 1,000 and 10,000 BTC contributed over $435 million.

What does this indicate? Even if the overall pace has slowed, the whales still have the muscle to stir the market. A single move can involve thousands of BTC, and volatility—whether upward or downward—can occur between such individual transactions.

Therefore, tracking whale behavior remains essential.

From the current situation, the overall trend still leans bullish. A major exchange continues to receive the largest share of trading volume. Interestingly, when whale inflows to this platform decrease, it often means selling pressure is easing.

Looking at it from another angle: fewer inflows of Bitcoin mechanically mean less immediate outflow. For short-term market equilibrium, this is actually a relatively positive signal.