Just now, I was scrolling through on-chain transfers and my eyes started to sting: a large transfer that looked like a "coincidence," but actually followed a pretty straightforward path — first split into several intermediary wallets to hide the trail, then tested the DEX, and finally a transfer back to the hot wallet of the old exchange... Basically, it’s more like “changing channels,” not some mysterious secret code. Now, the funding rates are extreme again, and in the group, people are arguing whether to reverse the trend or keep squeezing the bubble. I’m actually more interested in how these transfers move: when the same set of addresses start syncing actions, who tries first, who ends up taking the last position. That’s how the narrative whirlpool begins — first with screenshots as evidence, then the whole internet automatically fills in the story. Anyway, after seeing it so many times, it’s pretty funny.