It very close to the bitcoin halving. Do any big BTC holders have any intention of buying something with their BTC? Are any going to continue holding. One of my friends is planning on buying a phone. He has been storing up for a long time.
In terms of the whales, you better ask them if you know one in personal.
I think the majority of the people will continue holding until halvening and maybe continue doing so for a while after that.
I mean almost everybody is speculating on a rising price, so why leave the boat?!
Some others who have money left will continue accumulating BTC.
And after halving, with or without significant price increase, some will buy goods or dump for profits, what will give others the possibility to buy in again.
So you will see all of what you've mentioned.