A major investor, after losing $13.73 million in ETH trading last month due to a buy low, sell high strategy, has recently resumed trading. Unlike the previous bet on Ethereum, this time the focus has shifted to gold-like assets.

Half an hour ago, this large sum was used to purchase 2,251 XAUt (gold tokens) at an average price of $4,420, totaling $9.95 million. The shift from the crypto market to gold asset allocation reflects this player's risk-adjusted strategy.

Compared to their loss-making operation in November, this move appears more cautious—shifting from highly volatile mainstream coins to relatively stable physical asset-backed products. To some extent, this also mirrors a change in asset allocation mindset under the current market environment. Whether for risk avoidance or arbitrage strategies, every step taken by this major player is worth the attention of market participants.