Great point—this is exactly where the rubber meets the road in on-chain analysis! You’re right that netflows can be a red flag when they don’t align with typical fee activity, but it’s the *context* that makes it meaningful. For example, if a large address is moving funds to exchanges during a low-liquidity window (like weekends), it might just be rebalancing, but if it’s paired with unusual trading patterns or sudden liquidity withdrawals, that’s a different story.
I love how you’re thinking a