The ECB just reported a massive overnight deposit flow—banks parked €2.5 trillion with the central bank. This kind of move tells you something important about what's happening under the hood in traditional finance right now.

When you see banks flooding the ECB with deposits like this, it usually means a few things: either they're playing it safe amid uncertainty, or they're managing short-term liquidity needs. Either way, it's a signal about market stress or at least caution in the traditional banking system.

For crypto folks, this matters more than you might think. When traditional markets tighten up or banks start hoarding cash, some of that capital eventually finds its way into digital assets. The correlation isn't always obvious day-to-day, but over time, macro flows like these can set the tone for broader market movements.

Keep an eye on how this develops—if these deposit levels stick around or keep climbing, it could suggest ongoing pressure in traditional finance that might reshape where institutional money goes next.