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Yes I believe that is pretty much it; strong hands accumulate most of the floating supply, then now a small amount of demand puts price up a lot because of lower amount of bitcoin available after accumulation, and then the big fish sell into the hype to get out of their position as I believe they are doing now:

They sell all their bitcoin back to ur average weak-handed individual and price dumps because they regret buying after price has already went up a lot lol

Yeah. They're slick about it. That's why I'm waiting foe the next crash.