A Bitcoin address that had been dormant for 15.9 years became active today. Its topic, $BTC , was trending at around 6.35 million on the platform, ranking first. Many people’s first reaction was, “A whale is about to make a move.” But an on-chain transfer can confirm only one thing: the coins moved. Whether they were sent to an exchange or another cold wallet makes all the difference. A long-dormant address waking up is like someone turning over in their sleep—it doesn’t tell us which way they’re headed. When looking at on-chain data, it’s more useful to separate “what happened” from “what we can infer from it” than to rush to a conclusion. Investing involves risk.#链上信号 #风险认知 $BTC