Recently, there is a popular saying that 'it seems like everyone is buying Bitcoin', but this does not mean that 'no one is selling in the market'. We need to look at this issue more comprehensively.

Current data tracking mainly focuses on large on-chain wallets, including those that hold 1 Bitcoin to over 10,000 Bitcoins. However, this is only a part of the Bitcoin market.

We also need to consider the following factors:
1. Investors trading on centralized exchanges (CEX)
2. Miners are selling newly mined Bitcoin.
3. Some funds may be taking profits or rebalancing their portfolios.
4. Long-dormant old wallets may suddenly 'wake up' and start trading.

It is worth noting that the current chart can only display the overall trend and cannot accurately reflect the actual trading volume. This means that while large holders may be increasing, there are still active buyers and sellers in the market.

Therefore, we need to be more cautious when interpreting Bitcoin market data and cannot rely solely on a single data source. The real market conditions are often much more complex than the data we see. For investors, it is crucial to have a comprehensive understanding of various aspects of the market, including over-the-counter trading, miner behavior, and the strategies of institutional investors.