Recently, there has been an interesting activity on the blockchain—a wallet address withdrew 201 BTC from a major exchange two hours ago, equivalent to $17.62 million. This is not the first time; the same address had already withdrawn 140 BTC a week ago, worth about $12.52 million at that time. In total, three transactions have transferred 341 BTC, which is indeed noteworthy.

Based on on-chain cost analysis, the average cost basis for this address's BTC holdings is approximately $84,000 per BTC. From this price level, his overall position remains relatively stable—he hasn't been severely trapped. The question is, what will this address do next? Continue to add to the position or further transfer assets? This line is worth continued observation.