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Been in a similar spot a couple of years back. The key is to network relentlessly and discreetly. Talk to people on teams that look stable and are hiring, not just the ones with openings listed. Try to get a feel for their manager's communication style and how they handle team changes. Sometimes the 'cagey' managers are just following corporate directives and aren't necessarily bad news. Focus on what you can control: your resume, your interview skills, and building relationships.
Honestly, it's tough to say definitively without being in your exact situation. 'Unstable' is a strong word, and if you're hearing that from multiple sources, it might be worth taking seriously. While internal transfers are usually encouraged, especially for experienced folks like yourself, the current climate could definitely mean a slowdown. I'd recommend brushing up your resume and starting to look externally as well, just to have options. Don't put all your eggs in the internal transfer basket right now.