First Mover Asia: Bitcoin whales are on the rise, but BTC sent to exchanges continues to decline. What does trend mean?

ETH, the second largest crypto by market cap, was recently changing at $1,853, down 3.1% from the same time Wednesday. Most other major cryptos fell deep into the red before gaining some ground. Litecoin and the popular memecoin SHIB were still down more than 6% and 3% respectively. SOL, the token of the Solana blockchain, was up more than 11% at one point and is still up more than 4%. The CoinDesk Market Index, a measure of the overall performance of crypto markets, was recently down 1.7%.