#数字资产生态回暖 Ethereum whales' recent move has gone viral: they spent $33.08 million heavily investing in $ETH, betting on the Federal Reserve's rate cuts bringing positive effects. But what happened? The policy indeed materialized, but the market's reaction was directly opposite—in 24 hours, 100,000 traders got liquidated, over $200 million evaporated, and not even that large position escaped unscathed.

The most painful part is, the loss amount isn't even the biggest issue. The truth we've repeatedly learned in the crypto world over the years is quite simple: it's always market expectations, not actual results, that drive trading.

Retail investors think straightforwardly: rate cuts = good news, so they buy buy buy.

But institutional players operate very differently: once expectations are digested, they sell when it's time to exit.

This tactic has a name—it’s been seen countless times—called "Buy low expecting low, sell high realizing high." Once you understand this, you'll see why some people earn huge profits while others keep getting educated by the market.