2026-01-02 16:22:21

Whenever you see news about "Whale addresses reaching new highs," be skeptical. This data is very likely misleading you.

**Exchanges Playing "Left Hand to Right Hand"**

Many on-chain analysis platforms treat exchange cold wallets as whales, which is problematic. Recently, mainstream exchanges have been consolidating large amounts of funds, moving scattered Bitcoin into a few super-large addresses. On the surface, it looks like whales are aggressively buying, but in reality, funds are just moving within the platform, with no new holdings—purely a paper game.

**Removing "Fake Data," the Truth Emerges**

By excluding all known exchange addresses, the data becomes much clearer. The actual holdings of top whales (players with 1000+ BTC) have not increased; they are actually slowly decreasing. This indicates that long-term large holders are taking advantage of the high liquidity to exit.

Even the core players (holding between 100-1000 BTC) can't hold on. Despite the increase in custody shares from spot ETFs, their holdings are still shrinking. Veteran players are retreating faster than new funds are coming in.

**So, what is the truth?**

There is no real "whale support" in the market. Instead: exchange addresses are growing fatter, while genuine large wallets are shrinking. This false prosperity in the data conveniently masks the reality that major funds are quietly pulling out.

"Bottom-fishing signals" should be viewed with caution.

BTC1,61%

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GasFeeNightmare

· 6h ago

It's the same old story, exchanges have long been played out. I noticed this when I was tracking on-chain data late at night, and as a result, the gas fees were insanely high, and the verification costs were a loss... Big players are fleeing very quickly.

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liquidation_watcher

· 6h ago

It's the same old story, exchange cold wallet funds being disguised as whales, the old trick again. Large traders are fleeing, who still believes in bottom fishing? Oh my, there are so many twists and turns in on-chain data, you have to discern for yourself. The truth is that the main players are quietly slipping away; we've seen too many cases where data is deceptive. Exchanges are moving funds from left to right hand, anyway, retail investors can't understand it haha. So, I say, these so-called "good signals" definitely warrant a question mark.

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YieldWhisperer

· 6h ago

lmao the classic "exchange consolidation ≠ whale accumulation" play... seen this exact pattern before and everyone still falls for it. actually the math doesn't check out if you exclude all known exchange wallets. real whales are quietly exiting, not stacking.

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LiquiditySurfer

· 6h ago

Bro, I've seen through this trick a long time ago. The exchange's little tricks can't fool me at all. The big players are really fleeing, don't believe those hype news. It's time for another wave of fake data to harvest the retail investors. The so-called whales are actually all selling off. Who still truly believes in market support? The data looks good, but the money is quietly flowing out. This wave of main forces is running faster than I can eat lunch, hilarious. The real big players have already started to escape, and the small investors are still dreaming.

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StakeOrRegret

· 6h ago

It's the same old story, tired of playing with exchange data... real big players have already left. --- Wow, it turns out the big whales are all fleeing, no wonder the atmosphere feels off. --- That's why I never trust on-chain analysis, it's too easy to be fooled. --- Wait, are you saying those "new highs" are just tricks played by the exchanges themselves? Amazing. --- I told you earlier, the idea of whale support is a false proposition, and now someone finally pointed it out. --- Friends trying to catch the bottom, take a good look, this is the real truth. --- Veterans are all selling off, what are the new retail investors still waiting for "new highs" for? They deserve to lose. --- The exchange's left and right hands are fighting each other, and we retail investors are the ones being confused. This is hilarious. --- Big players are fleeing quickly, but the data is lying. The market needs to wake up. --- Those so-called support signals are actually just others quietly leaving the market, damn.

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