🐋《The Whale Moved》｜2025-08-20

📰 Major Positive / Negative News:

- According to Santiment and the Santiment Intelligence platform, since the market correction on August 13, whale addresses holding 10–10,000 BTC have accumulated over 20,000 BTC, indicating that such institutions continuously buying often signals a potential price rebound (positive news).

- During the same period, U.S. Spot Bitcoin ETF has seen a net outflow of approximately $140 million this month, putting pressure on short-term market liquidity (potential negative news).

📊 Long-Short Ratio (ETH):

- Coinglass shows ETH long positions at 47.9% and short positions at 52.1%, with a long-short ratio of approximately **0.92**, indicating a predominantly bearish market.

🛂 Regulatory Updates:

- No authoritative regulatory policy updates today, it is still recommended to continuously track the trends of regulations and regulatory agencies.

💰 Fund Movements:

- On-chain data shows that institutional whale accounts continue to accumulate BTC, with whales withdrawing from exchanges contributing to a decrease in inventory, potentially enhancing support.

- At the same time, ETF outflow pressure and tight market liquidity may create structural hedging.

🧠 Brief Commentary:

- Whales continuously accumulating and BTC ETF net outflows create a short-term market game: institutional confidence vs liquidity risk both influencing the market;

- ETH shows a slight bearish advantage, but it is still far from extreme bearishness, and there is still potential for rebound resilience;

- It is recommended to closely monitor the upcoming movements of whale funds and the changes in ETF inflows/outflows to guide market rhythm.

- "Do you think whale accumulation is a structural bottom signal or just a temporary price consolidation?"

- "With the ETH long-short ratio in the bearish zone, do you lean more bearish or expect a rebound after a correction?"

- "The ETF outflows conflict with whale behavior, how should we deploy the market rhythm? Feel free to share your strategy in the comments!"