🧿 ETH’s Supply Shadow A 1.35B ETH transfer to Binance is not proof of a dump, but it is exactly the kind of move that makes the market lean forward and squint. Add in BlackRock and Fidelity routing more ETH through Coinbase Prime, and the tape starts looking less like quiet accumulation and more like a stressed plumbing system. My read is that the real issue is not one address, it’s the rising concentration of ETH on venues where liquidity can turn into impulse. 🕸️ When exchange balances climb while institutional flows get noisier, the market has to absorb a heavier supply overhang, even if some of it is just collateral movement or treasury reshuffling. The bullish case is that this is operational, not directional. The bearish case is that repeated transfers gradually condition traders to expect more ETH hitting the market. 🗝️ The sharp takeaway: this is a supply-warning setup, not a panic signal—but if these flows keep stacking, ETH’s ceiling gets harder to ignore. ⚠️ Personal analysis only. Not financial advice. DYOR. #ETH #Crypto #Ethereum