CryptoQuant: BTC whales have not exited yet; this is merely a severe correction rather than a structural crisis

According to ChainCatcher's message, the on-chain data platform CryptoQuant stated on platform X that BTC whales have not exited, and their current behavior resembles the accumulation seen during the 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 policy is brewing a crisis, they have not exited yet (unlike the performance before the COVID pandemic crash in 2020). What we are seeing may just be a correction in the ongoing bull market cycle—albeit a severe correction—rather than a structural crisis triggering a whale-level exit.