While Bitcoin hovers around $108,100 and Ethereum slightly slips below $2,521, the market seems to be in a 'winter sleep' — but in reality, a huge amount of capital has been quietly moving behind the scenes.
🏦 Large trades, large institutions: Cumberland & Abraxas take action
Just within a few hours:
🔶Over 1 billion USDT newly issued
🔶555 million USDT transferred to a wallet linked with Cumberland
🔶434 million USDT flows into Abraxas Capital
Notably, all this USDT is being deposited on major exchanges like Binance, OKX — not through liquidity pools. This is clearly preparation for significant action, not random FOMO capital inflow.
So why is the market still quiet?
📉 Net cash flow is still negative – Is the market not ready?
Despite strong inflows of USDT, BTC and ETH still report negative net cash flow — meaning more assets are withdrawn from the exchange than deposited. Market sentiment remains cautious, with no strong buying actions from major players.
📌 BTC: Trading not increasing, price around $108K
📌 ETH: Below $2,550, capital flow extremely stagnant
📊 High SSR – Is liquidity accumulating?
Stablecoin supply ratio (SSR): 17.9
Total stablecoin market capitalization: $161.5 billion – the highest in history
➡️ There is a large buying potential but it hasn't been activated yet
➡️ Institutions seem to be preparing — not rushing into action immediately
⚠️ Flat funding rate – Leverage not yet withdrawn
Even the derivatives market shows that the funding rate is almost flat, with no signals of increased leverage. This contrasts with expectations when over 1 billion USDT was transferred to the exchange.
This is a classic 'liquidity accumulation' model – before a major volatility occurs.
🔍 Conclusion: 'The battlefield is ready – but the guns have not fired yet'
No decisive buying action, no hot altcoins, no forced leverage – just a huge USDT flow hanging in the air and an unusually quiet market.
⏳ And as usual, this game is not led by retail investors. Major players are already in position. Now we just wait for the activation signal.