Long-term Bitcoin holders have offloaded nearly one million BTC in the past 30 days, marking a record high in sell-offs, according to Alpha Updates' on-chain data analysis. This significant liquidation typically signals the later stages of a bull market as early investors seek to realize profits. Concurrently, the "Bitcoin Shark" address has net purchased 269,822 BTC, marking the largest concentrated accumulation in 13 years. This trend of "old money leaving and new money entering" suggests a transition phase in the bull market, rather than a market peak. Analysts anticipate increased volatility and a gradual shift in market dominance as these dynamics unfold.