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

**Liquidity continues to tighten**. The Federal Reserve has signaled that there will be no rate cuts at least through May, meaning money is becoming increasingly expensive across global markets. Once funding becomes tight, all risk assets will face pressure. The crypto market is hit first and hardest.

**On-chain whales are quietly reducing positions**. A wallet on Ethereum recently made a major move — it transferred 40,000 of the 100,000 $ETH held for 5 years to exchanges. This liquidation is worth close to $200 million. Long-term holders exiting the market is usually not a good sign, typically reflecting short-term topping pressure.

**Political factors are adding fuel to the fire**. Trump has issued a warning that the U.S. government could face a shutdown. When such political events occur, market reactions typically follow a pattern of decline followed by recovery, but volatility tends to surge dramatically throughout the process. Uncertainty itself is a killer.

**What's ahead?** Over the next 1-2 months, the market enters a relatively challenging phase. Macro policy pressures, on-chain chip transfers, and political risks — these factors combined will only intensify volatility.

The short-term advice is to remain disciplined. Observe more, operate less, and strengthen your risk management. Once this wave of volatility passes, opportunities will become much clearer. $BTC $ETH