$MERL Large account transfers to exchange, market sentiment may amplify——Recently, a large account address transferred 16 million $MERL to Bybit exchange, this large-scale transfer has attracted widespread attention in the market. Since this action is usually related to liquidity preparation or cashing out, it may be a signal of further deterioration in market sentiment, especially with the unlocking period approaching.

Today, a large transfer of 16 million $MERL has been confirmed to enter the Bybit exchange. Such a large-scale transfer often indicates liquidity preparation, meaning that the large account may plan to cash out or take other actions in the short term. The timing of this fund transfer coincides with the unlocking period, indicating that these large accounts may be positioning themselves in advance to avoid market liquidity congestion or increased slippage on the unlocking day.

As large accounts transfer to the exchange, other investors may feel the market's unease, thus taking preemptive strategies to reduce positions or wait and see. This amplification effect of sentiment can lead to increased market volatility in the short term and may also accelerate the development of a downward trend. Investors seeing large account funds entering the exchange may think the market outlook is bleak, thus more easily forming panic selling, further increasing selling pressure.

Large on-chain transactions often reflect changes in market sentiment in advance. The early transfers by large accounts before the unlocking period may trigger panic among other market participants, putting further pressure on the market. For small retail investors, such on-chain behavior often amplifies the market's negative reaction.

The transfer behavior of large accounts is undoubtedly an important signal of market sentiment. Combined with the current technical situation and supply pressure, $MERL may face more severe selling pressure, leading the market into a deeper bearish dominant state.