#以太坊行情解读 Whale action raises follow: Large asset management institutions have recently frequently adjusted their encryption asset allocation.

On-chain data shows that top global asset management firms have recently been very active in the Bitcoin and Ethereum markets. Just from the on-chain records of the last 24 hours, the daily sell-off scale has exceeded $250 million (approximately 1.7 billion RMB), and this sell-off is not a scattered reduction - rather, it is occurring at a high frequency on a minute-by-minute basis. $BTC and $ETH have simultaneously become the focus of adjustments.

The interesting part of this move is that: not long ago, this institution was making a high-profile layout for Bitcoin spot ETFs, but now they are making large-scale adjustments to their positions. Is it a strategic cyclical adjustment? Or are they shifting positions for a new round of layout? There are various opinions in the market.

Some analysts speculate that this may suggest that institutions are sniffing out certain subtle market changes—whether it be regulatory trends or other unforeseen factors. After all, such Whale-level movements are usually not without a trace and often become important barometers of market sentiment.

On-chain data itself does not lie, but the true intentions behind the data? That requires market participants to interpret it themselves. Such large-scale rebalancing events usually trigger a subsequent chain reaction, which is worth following continuously.