On-chain data indicates that funds are being withdrawn from exchanges to 8 new wallets for storage, seemingly with no intention to sell, merely transferring from exchanges to new wallets for storage.

Ethereum co-founder transfers over 100,000 ETH to exchange, suspected to be preparing for sale
16 minutes ago, Ethereum co-founder Jeffrey Wilcke transferred 105,737 ETH to Kraken exchange, with a total value of approximately 262 million dollars, at an average price of about 2477 dollars each.
This large transfer is suspected to be preparation for a subsequent sale.