#以太坊大户持仓变化 🔍Recent signals on the market chart all point in the same direction—heightened volatility.

**Liquidity continues to tighten**. The Federal Reserve has signaled that interest rate cuts are unlikely until at least May, meaning global market liquidity is becoming more expensive. When funding tightens, all risk assets are squeezed, with the crypto market being the first to feel the pressure.

**On-chain giants are quietly reducing their positions**. A wallet on Ethereum recently made a big move—selling 40,000 ETH out of a 5-year holding of 100,000 ETH and transferring it to an exchange. This cash-out scale approaches $200 million. Long-term holders exiting often signal short-term top pressure.

**Political factors are also adding chaos**. Trump has issued warnings that the US government might face a shutdown risk. Such political events usually cause markets to dip first and then rebound, but volatility tends to spike significantly during the process. Uncertainty itself is a killer.

**What’s the outlook?** Over the next 1-2 months, the market is entering a relatively difficult phase. Macro policy pressures, on-chain capital shifts, and political risks stacking together will only increase volatility.

The short-term advice is to remain cautious. Observe more, operate less, and manage risks thoroughly. Once this wave of volatility passes, opportunities will become clearer. $BTC $ETH