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Interesting on-chain activity this morning — the rhythm of Cumberland DRW's operation is worth watching. First, a transfer of 50 BTC to Bullish.com in one go, then the remaining 19.99988732 BTC was moved to a new address. This kind of batch transfer routine is common in institutional operations, usually reflecting multi-chain deployment or reconfiguration of asset positions. The liquidity of BTC held by these large holders has always been a market focus, and each large transfer can cause subtle market fluctuations. Recently, institutional actions have indeed been quite frequent, worth continuing to monitor.