#大户持仓动态 Are large whales still adding positions despite massive unrealized losses? This move is really bold. According to on-chain data, this trader, with an unrealized loss of about $70.1 million, just投入 another $35.33 million into ETH half an hour ago.

Here's a summary of the data:

· Total position size: $695 million in long positions, covering major cryptocurrencies like $BTC, $ETH, and $SOL.
· ETH is the main focus: a single ETH position accounts for $578 million, with an average price around $3,167, currently showing significant paper losses.
· On the other side of the market: long-term holders (commonly known as "diamond hands") are now significantly reducing their positions, with holdings over two years being sold to recover funds.

What’s the logic behind this?

It’s a classic "left-side positioning vs. right-side exit" confrontation. One side is betting on a market turnaround in the next bull cycle, while the other is cashing out profits and expressing market pessimism. This large trader might be optimistic about the next technological iteration in the ETH ecosystem or confident in continuous institutional inflows.

Tips for retail investors:

Whale actions can reflect market trends, but they are not trading guides. This "buy the dip" approach requires astronomical capital reserves and unwavering conviction. For ordinary investors, following this trend can be extremely risky. What’s truly worth pondering is—what are smart funds doing when panic is at its peak and trading volume is at its lowest? This can tell you more about the market’s true temperature than any technical analysis or news.