Traders are paying attention to Wintermute's latest moves. The large entity has begun transferring thousands of BTC to their wallets, along with millions of dollars worth of additional Bitcoin. On-chain data clearly reveals the transaction—there's no room for deception in such moves.

While everyone is pondering their "sell" decisions, the real event points to something very different. The liquidity provider's accumulation of BTC on this scale indicates that market dynamics might be different from what was expected. Meanwhile, short positions have come under significant pressure during this period.