Whales' operations are often not singular. A typical strategy may include: quietly building positions in the spot market while simultaneously establishing short contracts at high levels. Then, through related accounts, they concentrate on selling the spot, triggering a price drop and market panic, which leads to the forced liquidation of a large number of long contracts. After the plunge, whales buy back the spot at a low price and close the short contracts, achieving dual benefits of "low-priced spot recovery" and "profit from short contracts."