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their cumulative 30-day inflow has risen from $21.7 billion to $30.5 billion, an increase of more than 40% compared with more than a month ago.

Typically, stablecoin inflows to trading platforms often mean that funds are preparing for market positioning, so the increase in whale stablecoin inflows may be related to potential buying pressure.

Data shows that whale stablecoin inflows previously exceeded $61 billion at the October high, then experienced a relatively long decline.

Recently, as Bitcoin's structural trend has changed, whale capital behavior has begun to shift, but they still remain cautious.

Darkfost said that current whale capital deployment is affected by multiple factors, including market expectations for an "October rally," as well as macroeconomic factors such as conflict, inflationary pressure, and continuously rising bond yields.