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Whales use wallets to hold, noncustodial wallets preferably, hardware and other offline wallets most preferably, while moving bitcoin from wallet to exchanges is indicating a bear market because the whales are moving bitcoin to exchanges to sell.
But, if whales are moving bitcoin from exchanges into wallet, it means they want to hold, and a sign bull market will soon begin.
One of the common indication or signs where most people been eyeing off when it comes to those pulling and putting big funds on the market.It can really be spotted out and thats why
some would really be finding out this indication towards their trading analysis on the market but doesnt mean that it is precise for them to follow it out because its neither those whales
are just making those casual transfers but not actually selling or holding.
but what as Charles-tim said then this is the way on reading up those whale alerts.