Lately I've been monitoring on-chain transfers, and there's always someone saying "coincidence," like several transactions happening at the same time to the same address, and then just happening to go to an exchange.

Honestly, I prefer to break it down: first, which addresses are accumulating U, then whether there's a fixed "bridge point" for transfers, and finally whether it lands in the exchange's hot wallet or directly into the deposit pool.
If the path makes sense, it doesn't seem like a coincidence but more like a process.

By the way, I checked the fee rates, and they're extremely high.
In the group, people are arguing whether it's a reversal or if the bubble is still being squeezed.
I can't guess the direction, so I can only compare these on-chain inflows/outflows with exchange activity.
Only if there's consistency do I dare to trust it a bit more; otherwise, I treat it as noise.
That's all for now.