MicroStrategy has recently transferred 411 Bitcoins to Coinbase, worth approximately $30 million.

Judging purely by the scale, over 400 coins are only a tiny portion of its overall holdings and do not indicate a large-scale sell-off; however, this move has already sent a clear “qiong tou” sentiment signal.

Polymarket data more directly reflects a major shift in market expectations:
In late May, the market believed the probability of MicroStrategy selling Bitcoin was only 15%;
As of now, that probability of selling before the end of June has surged to 63%, and the probability of selling within the year is as high as 84%.

Even the most widely recognized “qiong tou,” who everyone considers the most steadfast, is quietly making an exit plan for itself—enough to show that market confidence is currently loosening.

With the weekend also approaching, overall liquidity in the crypto market will tighten significantly. These kinds of “qiong tou” signals are easily amplified by emotions and can accelerate the trend turning weaker.

So, in the short term, sticking with a “qiong tou” approach is always the right move.