From a simple data perspective, at 8:30 am Beijing time this morning, approximately 14000 BTC were transferred to the exchange. So far, 4000 BTC have been consumed, and nearly 10000 Bitcoin are still stuck on the exchange, mainly transferred to Kraken. From a usage habit perspective, it is likely to be a selling behavior of European investors and a one-time transfer, so it may be the departure of a high net worth user or institution.