المنشور

$46.7M of $ETH landed on exchanges this week across 16 venues while price sat flat at +1.0%, real size moving with the chart giving zero indication. traced the deposits: Wintermute's wallet put $493.4M onto Binance, this exact wallet, same one that moved $64K of $LINK onto Binance back on 7/27 and that call barely moved the needle, +0.2% over 8 hours. so history says don't read too much into MM flow alone. the other leg, $78.6M into Bitfinex, is just their own deposit wallet, exchange plumbing, not a whale tell. net picture: supply is sitting on exchanges now that wasn't a week ago. could be MM routing, could be sell prep lining up. flat chart, loaded exchanges. watching this one, not calling it.