Bitcoin's price fell below $86,000 on Monday morning as whale buying slowed and retail investor interest surged. On-chain data reveals a significant slowdown in accumulation by large holders, while smaller retail wallets have increased their buying activity. Analysts suggest this shift could indicate late-cycle vulnerability, with the market showing signs of stress rather than a trend reversal. Timothy Misir, Head of Research at BRN, noted that the current market structure is delicate, with whales reducing their purchases and retail investors increasing their holdings. This pattern is typical of late-cycle dynamics, potentially exacerbating short-term market vulnerability. Despite the sell-off, exchange balances and stablecoin inflows indicate that the market retains both buying power and potential selling liquidity.