I need to mention something, today while watching the market, I noticed that something was not quite right on-chain.

It's not the kind of commotion caused by dramatic price surges and drops, but rather the underlying funds quietly moving — that kind of large-scale transfer that sends shivers down your spine.

What concept? An ETH transaction exceeding 50 million USD is frequently changing addresses, and the concentrated holding addresses for BTC suddenly increased by 1.05 million coins, with even a few old wallets that had been dormant for ten years suddenly waking up.

If you only focus on the candlestick chart, you might think "Today is just another ordinary day." But those who understand on-chain data know that such a large amount of capital movement must be brewing something behind the scenes.

I call this the "market restructuring period"—this does not mean that a crash is imminent, nor does it mean that a rally will happen immediately, but rather that big funds are no longer concerned about short-term fluctuations; they are redeploying their strategies.

Let's break down these actions, and you'll understand why I say: these whales are not fleeing, they are preparing for the next round of explosion.

🔥 **Why Did Whales Suddenly Start Arbitraging?**

Today's on-chain transfers have several obvious characteristics:

**The flow of ETH is particularly strange**

Where do you think these ETH went? Not to exchanges, but to self-custody wallets.

What does this mean? It's simple - it's not about selling, it's about holding the chips.

What are the biggest fears of large funds? Problems with exchanges, sudden regulatory account freezes, or being liquidated in the opposite direction during extreme market conditions. The only purpose of moving ETH from centralized platforms to cold wallets now is to lock in positions and wait for bigger opportunities.

Which whale have you seen dumping the market in advance? They only stash their goods ahead of time.

**BTC concentrated addresses suddenly increased by 1.05 million coins**

How exaggerated is this number? It accounts for more than 5% of the entire market circulation being re-concentrated. You should know...