Brothers, focusing on the K-line chart to trade cryptocurrencies without looking at on-chain data is like playing cards without paying attention to your opponent — you're just giving away money live. Today’s price seems calm on the surface, but the big players below the water are not resting for a moment.

**Ethereum has a red light flashing** — ETH price above $3300 still looks relatively stable, but do you know what has happened in the past week? Those whales holding between 100,000 and 1 million ETH have quietly offloaded over 230,000, equivalent to nearly 760 million RMB. Even more painful, the Capital Flow Indicator (CMF) is also bearish, clearly indicating capital outflow. This signal is straightforward — the buying momentum might be running out.

**Bitcoin, on the other hand, follows a different logic** — completely opposite operations. BTC whales’ holdings have not decreased over the past year; instead, they have been continuously buying, accumulating about 46,000 BTC. Interestingly, this group of listed companies has already invested over 105 billion USD in Bitcoin. These institutional investors hold heavy, relatively stable positions, acting as the market’s stabilizer.

**Uniswap token (UNI) shows another possibility** — the price has been quite battered recently, but the top 100 whales have quietly been accumulating over the past 8 weeks, buying more than 12 million tokens. Is this smart money bottom-fishing, or are some investors seeing the long-term value of this project?

**A few personal thoughts** (pure speculation): Be highly alert at this ETH level. Big players are not fools; they have reasons for offloading. When the price is rising but large funds are fleeing, this divergence signal cannot be ignored.