Large cryptocurrency investors, known as whales, continue to demonstrate strong bullish sentiment by accumulating Bitcoin despite recent price volatility. This behavior contrasts with the cautious approach of smaller investors who have reduced selling activity in response to recent market corrections. Glassnode data reveals a shift from selling to selective buying among mid-sized holders, suggesting both a strategic re-entry into the market and increasing optimism regarding potential recovery. However, the report highlights significant unrealized losses for short-term Bitcoin holders, reminiscent of early-stage bear market conditions observed in previous cycles. In contrast, long-term holders (LTHs) maintain profitability, but as more former peak buyers transition to longer-term ownership, their role in absorbing market fluctuations could potentially increase. This dynamic, while not yet indicative of a full regime change, offers a potential indicator of the Bitcoin price floor forming in the coming weeks.