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Interesting observation: large BTC holders are closing long positions. Historically, this signal has appeared twice—October 2024 and April 2025—and both times triggered significant rebounds. What does this imply? When institutional investors start to reduce their holdings, it often indicates that market sentiment has become overly pessimistic. Their closing actions may have cleared the oversold pressure, paving the way for the next upward move. It is worth closely monitoring whether this cycle will follow the historical pattern.