PANews reported on December 18th that, according to Alpha Updates on-chain data analysis, long-term Bitcoin holders sold nearly 1 million BTC in the past 30 days, a record high. Such large-scale sell-offs typically occur in the later stages of a bull market, as early investors begin to take profits. During the same period, the "Bitcoin Shark" address net bought 269,822 BTC, the largest concentrated accumulation in 13 years. This phenomenon of "old money leaving and new money entering" usually indicates that the market is entering a bull market turnover phase, rather than a top signal. Increased volatility is expected in the future, with a gradual shift in market dominance.