I just detected an interesting phenomenon: BTC at the 68,641 level has shown a clear divergence signal.

Earlier today, large investors started to reduce their positions in batches around 70,243. On-chain data shows several transfers exceeding 1000 BTC flowing into exchanges, which directly caused the price to retreat nearly $2000 from the high point. But it’s worth noting that near the low of 68,382, we observed even larger buy support.
Even more interesting is the market sentiment data: the Fear & Greed Index plummeted to 11, entering extreme fear territory, but the funding rate remains at a neutral level of -0.0003%. What does this indicate? Retail investors are panicking, but big players and institutions are not heavily shorting; they might even be quietly accumulating.
Monitoring whale addresses shows that several well-known long-term holding addresses actually increased their holdings slightly today. The 24-hour trading volume of 40.6 billion USDT isn’t too exaggerated, more like normal profit-taking rather than panic selling.
This combination of "retail panic and whale calmness" often appears before major trend reversals. Clearly, large investors have differing views on this price range, and the capital flow in the coming days will be even more critical.