On-chain monitors reveal an intriguing pattern—large value transfers flowing from centralized exchanges to market makers, synchronized with price action swings. This isn't random. The liquidity mechanics suggest a coordinated play: exchanges routing capital to MMs who then deploy leveraged positions to shape market moves. The real story? Accumulation and distribution cycles engineered through these institutional flows. When you track transfers against price, the correlation becomes hard to ignore. It's not manipulation in the crude sense, but the infrastructure definitely tilts toward extracting liquidity from retail participants while insiders position themselves. Understanding this flow dynamic changes how you read the market.