Once again, large holders are moving their chips. According to on-chain data, a whale account that has been dormant for a long time just transferred 2,015 ETH to an exchange, resulting in an unrealized loss of $2.04 million. What does this kind of large transfer usually indicate? Some are forced to exit to cut losses, while others are preparing for subsequent actions. The transfer of over 2,000 ETH into an exchange could put short-term pressure on market liquidity. It is worth noting that such whale activities are often early indicators of changes in market sentiment. Whether actively adjusting positions or passively responding, every move by these large funds is releasing market signals.