Lot of newfags not understanding why this is bearish.
Allow me to explain, it's a clear as day bearish signal. As we approach tax season whales have large incentives to move BTC between exchanges. This whale is likely engaging in a form of tax loss harvesting wherein he moves btc from coinbase to a middle man wallet and then go a 2nd non KYC exchange and dumps it.
This enables the whale to right off the bitcoin and claim it stolen while in the eyes of the irs he has no gains to be taxed. Meanwhile he's dumped btc on the spot market the entire time.
Clear as day this is a sell signal I just went 20x short