The recent moves by several major players are worth paying attention to.

BlackRock is reducing its BTC holdings, and Tether is taking similar actions. These institutions are now playing an open-hand game—planning their exit routes in advance. The most crucial thing to watch right now is whether MicroStrategy will follow suit; their stance is, to some extent, a market indicator.

To put it bluntly, although institutions are large in scale, when the market becomes quiet and trading volume dries up, they are even more decisive than retail investors in making their exit. Why? Because they understand one simple truth: when liquidity dries up, being a step too slow means you’re paying the price for someone else’s speedy exit.

The signal behind these moves is clear—when the big players start quietly shifting their positions, the market may be more fragile than it appears. Retail investors should stay especially alert at this time and not wait until things are eerily quiet to realize they’ve become the last source of liquidity.