$74M
➔
Capital shifting between wallets, neutral flow change. $74M BTC moved from Bitwise: Physical Bitcoin ETP to Bitwise: Physical Bitcoin ETP on Bitcoin. Monitor the follow-up routing to distinguish internal treasury rotation, market-maker rebalancing, bridge settlement, and exchange wallet management from a true directional position change, because similar routes can look bullish or bearish without full context. Low priority whale transactions capital flow: treat as context unless similar transfers repeat.