#以太坊投资机会 24-hour CEX net outflow of 69,300 ETH, this data is worth paying attention to. Coinbase Pro led the outflow with 72,900 ETH, Gate and Gemini are also continuously outflowing, while Bybit recorded a net inflow of 2,031 ETH — indicating a clear divergence in fund distribution.

From an on-chain perspective, large ETH outflows usually point to two directions: one is institutions reducing their positions at high levels, and the other is retail investors fleeing before chips are concentrated. Considering recent market performance, the former is more likely. More notably, the scale of Coinbase Pro outflows often reflects institutional intentions.

What does an increase in position concentration mean? Against the backdrop of overall outflows, some whales are counter-trend accumulating or remaining passive. This usually hints that someone is preparing for the next cycle. It is recommended to continue monitoring inflow trends on exchanges like Bybit, as well as whale wallet movements — large transfers from exchanges to cold wallets on-chain often signal a bottom.

In the short term, this reflects adjustment pressure, but structurally, it is a good opportunity to observe position intentions.