Woofun AI notes that Strategy executed its first large-scale Bitcoin sale without inducing significant selling pressure or market panic. Current on-chain metrics show 10.83 million BTC in unrealized loss versus 9.22 million profitable coins. Spot trading volume has not fully reflected prior capital outflows, indicating a potential phase bottom. With ETF asset allocation shifts and positive capital flows, long-term holders and whales are accumulating. This transfer from low-confidence to high-confidence investors may define the next two to three months as a critical window for confirming the bottom.