Cryptocurrency asset management giant Metalpha withdrew 8,500 ETH from a leading exchange on January 23, with a total value of approximately $24.85 million. This move has attracted market attention. Large withdrawals by institutions often imply portfolio adjustments, changes in market sentiment, or increased asset flexibility, which could influence subsequent market mood.
Asset management giants withdrawing coins usually look at the subsequent movements of the holding addresses. If there are no signs of dumping within a short period for 8,500 ETH, it indicates they are not in a rush to cash out, but more likely are planning their layout. However, I need to keep tracking Metalpha's actions, as every step by institutions is worth analyzing.