According to online reports, according to online data platform CryptoQuant, BTC whales have not yet left the market, and their current behavior is similar to the accumulation seen during the sideways consolidation period from August to September last year. At the same time, the report cited by CryptoQuant also pointed out that although Trump's tariff policies are brewing a crisis, they have not yet withdrawn (unlike before the collapse of the COVID pandemic in 2020). What we are seeing may be just a correction in the ongoing bull cycle-albeit a drastic correction-rather than a structural crisis that triggers a whale exit.