To be honest, as soon as those big on-chain transfers came out recently, the group chat blew up—everyone was saying things like “smart money has run” and “the market makers are about to do something.” But when you break down the paths, a lot of it is just adjusting inventory between an exchange’s hot and cold wallets, or cross-chain bridges moving assets for arbitrage. It’s not that mysterious. I used to get overly nervous too, but after lowering my expectations, I actually felt at ease. Anyway, there’s plenty of information—pick out the key points and don’t scare yourself.

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