#BTC资金流动性 Another leading player has chosen to be low-profile. Over the past few months, the movements of $BTC large investors have been the focus of market attention—every large transfer and wallet change can trigger a wave of discussion. What does this recent wave of silence reflect? Is it accumulating chips, or is it really cooling down for the long term? From on-chain data, these events are often related to changes in Bitcoin liquidity. Large investor behavior can often reflect subtle market shifts in advance. Perhaps the clues for the next phase of the market are hidden in these seemingly silent actions.