November 21st. According to analyst Murphy, in the past half month from November 4th to November 20th, the main distribution force in the whale group has come from wallets holding less than 100 BTC. For example, wallets holding 10-100 BTC collectively sold 24,911 BTC. On the other hand, the main accumulation force came from the largest group, the super whales holding 10k-100k BTC, who collectively acquired 68,030 BTC.This group started continuous distribution after reaching a peak holding in July last year, until mid-October this year when BTC fell below $106,000, and then resumed accumulation. The actions of whales indicate that they believe the current BTC price has reached a certain level of value. However, their accumulation may not immediately support the secondary market price. Based on historical data, whale behavior is often a process rather than always buying at the lowest point and selling at the highest point. But in the long run, they are rarely wrong.