According to on-chain data platform CryptoQuant on the X platform, the BTC whale has not yet left the market and is currently behaving similarly to the accumulation seen during the sideways consolidation last August-September. At the same time, the report cited by CryptoQuant also notes that while Trump's tariff policies are brewing a crisis, they are not exiting yet (unlike how they did before the COVID pandemic collapsed in 2020). What we may see is just a correction - albeit a drastic one - in the ongoing bull market cycle rather than a structural crisis that triggers a whale-level exit.