The identification of whale locations shows early signs of #bitcoin.” reaccumulation after a distribution phase. Data on the blockchain that tracks major Bitcoin holders (1K–10K BTC, excluding exchanges and mining pools) indicates a significant shift in whale behavior after an extended distribution phase in late 2025. After reaching a local peak in mid-2025, whale balances have steadily decreased while the price of Bitcoin remained high, suggesting a classic distribution in the direction of strength rather than forced selling. The 30-day balance change index confirms this dynamic. During the third quarter and the beginning of the fourth quarter, whale balances recorded consistently negative monthly changes, coinciding with increased price volatility and weakened momentum. This divergence highlighted that upward price movements were increasingly driven by smaller buyers rather than sustainable accumulation by large investors. However, recent data shows a clear shift. Short-term (7 days) and medium-term (30 days) balance changes have turned positive, while total whale holdings have begun to stabilize and recover from their local lows. Historically, such shifts from net distribution to accumulation tend to occur during periods of price decline or post-correction phases, not at market peaks. $BTC $GIGGLE $USDT