#数字资产市场动态 【On-Chain Quick View】I've been tracking this whale's operation all morning—selling off a $15.25 million ETH long position was quite decisive, but honestly, a $90,000 profit is a bit modest.

Here's the issue: this guy is definitely not in it for long-term positioning; he's a high-leverage intraday trader through and through. After closing his position at 18:03, I checked the address history—last night, he even reversed and opened a short to smash the market, making gains and losses within about 24 hours. This kind of trading strategy isn't very meaningful for retail traders; instead, it reveals an interesting signal—current big funds are really shrinking their risk appetite, only playing minute-level moves, and not daring to bet on directional trends.

Deep on-chain data reveals some details:

After closing his long, the $ETH funding rate still remains positive, indicating retail longs haven't all fled yet.
But the large ETH inflow to exchanges has dropped 30% compared to this morning.
The whale wallet's overall leverage has been decreasing since early morning.

My view remains unchanged: $ETH is stuck in a range between 2550-2680, repeatedly tugging back and forth. Until there's a clear breakout, any moves by whales are just market noise. My approach is this—layered long positions around 2580, and by 2620, I’ve already cut half of the position. The remaining part is set with a stop-loss at cost basis, allowing me to ride the wave and avoid sudden gap-down liquidations.

The key point: don’t just chase surface news blindly; you need to see through the position battles behind the headlines. The real opportunities are hidden in on-chain data and big fund movements.