ICP spot market tells an interesting story about who's really calling the shots. When whales step in as buyers, the net flow turns positive. But the moment they pull back, retail traders tend to dump their bags—flipping the entire market sentiment into selling pressure. The pattern is pretty clear: large holders accumulate during these phases while smaller investors rush to exit during downturns. This dynamic shows how institutional strength can dominate price action in ICP trading, especially during volatility swings.