2026-01-06 02:00:22

#2026年比特币行情展望 On-Chain Whale's Reverse Operation Logic

Recently, an interesting trading story has been circulating — a major trader at a leading exchange, after a market flash crash, turned around and bet on a bullish rally. According to on-chain data tracking, this whale's latest position size has reached $819 million, with unrealized gains surpassing $21.67 million.

Careful examination of their holdings reveals some insights. Ethereum accounts for 80% of the total position, with a $ETH long position earning $15.39 million in profit; although the $SOL position is relatively smaller (with a principal of $70.52 million), the $3.9 million profit is also quite significant. More notably, the daily funding income already covers $4.61 million of historical costs — in other words, they are making a profit while also hedging their position costs.

What does this reflect? It likely indicates confidence in the rebound potential of Ethereum and Solana. During the flash crash, most people panicked and sold off, but they chose to add to their positions at the bottom. This kind of boldness either comes from macro cycle judgment or from holding onto on-chain signals we haven't seen.

Of course, risks are also present — if the market dips again, the backlash from such a position could be substantial. Position management is always the first lesson.

ETH-0,12%

SOL3,19%

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MevHunter

· 11h ago

Damn, this guy's really bold. Is he doubling down after the flash crash? I'm about to take off my pants, and he's still adding to his position.

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SandwichVictim

· 20h ago

Flash crash bottom fishing for over 20 million, I really admire this move. You must have a really strong heart.

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ColdWalletAnxiety

· 01-08 04:45

It's another story of "I'm smarter than you, I bought the bottom," but to be fair, this guy's guts are indeed impressive. When everyone is panicking, turning around to go long—either he's betting on the right cycle or he's about to get liquidated. I'm a bit worried about the 80% ETH allocation; if it really drops below, it's game over. But making money through funding fees to hedge costs is indeed a clever move. I just don't understand why he still has to show off his holdings so publicly on the chain—afraid no one will know?

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rekt_but_resilient

· 01-07 20:58

Wow, this position management... I just wanna know if he can even sleep at night

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TerraNeverForget

· 01-06 02:30

$819 million bet on ETH, this kind of courage is really impressive --- I can't learn the courage to buy the dip during flash crashes, but I definitely made crazy profits --- Can funding fees still hedge costs? This is the real way to play --- Adding positions at the bottom vs panic selling, in the end, the winner takes all --- Wait, SOL only has about $7 million in principal but earned $3.9 million? That return is incredible --- I'm afraid he might be wrong in his judgment. If he throws 800 million and gets cut in half again, that would be heartbreaking --- On-chain whales see signals we can't see, that's the gap, right? --- ETH accounts for 80% of the allocation, it seems they are really optimistic about Ethereum's rebound --- Daily funding fee income can cover historical costs, this is basically free money --- The problem is, when will we be able to understand these on-chain signals? --- Looking ahead to 2026, this headline is a bit early, but the logic of making money is indeed worth pondering

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MetaMisery

· 01-06 02:30

This guy is really bold, even during a flash crash he dares to go long... If I had 800 million dollars, I would have peed my pants already.

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PuzzledScholar

· 01-06 02:30

Buying the dip during a flash crash is easy to talk about but hard to do.

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SchrodingerWallet

· 01-06 02:27

With a position of $819 million, I just want to know if this guy can sleep well? --- It's another story of flash crash bottom fishing. Is this time really different? --- ETH 80% allocation, it seems the confidence in Ethereum's rebound is indeed strong. --- Can the funding fee still cover the historical costs? This move is truly impressive. --- The question is, what if it tests the bottom again? Can this position withstand it? --- Why do I feel like this is a big gamble? If you win, you can boast for a lifetime; if you lose, it's game over. --- The key is, we can't see the on-chain signals he's observing at all. It's a bit helpless. --- Talking about adding positions at the bottom is easy, but how many actually do it? --- The unrealized profit of 3.9 million SOL is indeed tempting, but you need to stay calm. --- Such level of operation for retail investors is just a story to broaden our horizons.

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DegenWhisperer

· 01-06 02:22

Another story of "I bought the dip, what about you?" Is it real or fake...

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MidnightSeller

· 01-06 02:13

I'm looking at these data and something doesn't seem right. Is it really brave to have ETH make up 80% and be so concentrated? It's true that adding to positions during a flash crash shows some skill, but this position size is a bit scary... While the whales are making money, we're just cutting losses. This game is really damn hopeless. Feels like I'm always the one taking the hit. The idea of hedging costs with fees is pretty clever, learned something new. Is this a gamble that 2026 will be even better, or is it a landmine? Seeing these unrealized gains makes me drool, but I can't shake my habit of trembling hands. This risk warning really hit home... My position has long been blown up.

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