Yesterday, I saw something strange happening. The Bitcoin balance on a major exchange increased to 670k coins. I heard it's the highest since November. It seems like a whale investor put in BTC worth $760 million all at once. Maybe they're planning to use it as collateral for derivatives trading, or perhaps they're aiming to sell... An increase in exchange balances usually signals a bearish trend. In fact, Bitcoin dropped from $67,600 to $64,400 on Monday. Now it's moving around $65,850, and I can feel the market reacting sensitively every time there's such a large transfer. I'm always confused about what exactly an increase in exchange balances means, but ultimately, reading investors' intentions seems to be the key.