The amount of cryptocurrency transferred to exchanges by whales has reached a peak in recent months (7D SMA reaching ~12,000 BTC, a high post-November 24);
Some believe this is a top, but in reality, it is a "position adjustment"—altcoins are awakening, and whales are taking profits from BTC and shifting to altcoins;
This is the normal flow of funds during altcoin season (first taking small profits, then flowing into altcoins), indicating that smart money is positioning themselves in advance, not out of fear, but due to position adjustment. $BTC