Currently, there's no assurance that the whales make a move right now of course who wants to make public with the movement they want so surly there's market manipulation currently there are a lot of sleeping wallets right now, and no idea if those wallets address are already forgotten or not or just waiting for the all-time high again to take profit. Reason why people are scared of that wallet is because if the whales want to sell their bitcoin surely those holders were getting FOMO and cause of the market crash but if you are an investor this could be a good opportunity to you. For me its not ideal to check the wallets of this whales every time this just a waste of time better to focus on your trades and investment, its part of the volatility.
I partially agree with you. But every action has a reason. And for what purpose at one moment "wallets came to life", and the funds frozen on them suddenly moved to the exchanges - this is a question ? The variant of global manipulation being prepared is also quite realistic. That is why it is interesting to hear the opinion of the honorable audience of the forum, what assumptions can be ?
If there are some wallets that have a lot of BTC in them that hasn't been moved for a while, it doesn't mean that these wallets belong to some rich investors. These can be wallets of exchanges, crypto casinos etc, holding most of the money of their customers. Also, if there's a transaction, it doesn't mean that BTC is being sold (it's just one possibility). Moreover, if 'a whale' wants to sell BTC, I think it will probably be done via an OTC deal, which won't really affect the market much. Dumping a big amount of coins onto an exchange and trying to fill a huge order is just harder, likely to attract attention and cause unnecessary issues.
So to me, this doesn't mean anything, and I don't expect any effect on the market.
It's not out of the question. But the question is why do you need to withdraw to the exchange if you are not going to sell or exchange such volumes of bitcoin? Provided that to store it on the exchange, which is subject to quite a powerful pressure ?
In short - consider all options and ideas