Stop focusing on retail traders getting liquidated.

The whales in ETH may have already changed hands.

Many people are still watching those who bought at 1810 and got trapped.

Still watching how much profit the short sellers made.

Still debating whether the bull market has returned.

📚

But the real big funds.

Don't care about these.

💰

Yesterday $ETH surged dramatically.

Many thought it was just a rebound.

Many believed it was another trap to lure buyers.

📈

As a result, on-chain there was an obvious buy wall.

🚀

Bitmine continuously swept the market for several hours.

$35.85 million.

20k ETH.

Directly moved onto the chain.

💰

The most interesting thing isn't how much was bought.

But how it was bought.

👀

Not slow limit orders gradually accumulating.

Not sneaky accumulation.

But multiple routes executing simultaneously.

Like rushing to grab goods in the last ten minutes of a supermarket sale.

🛒

On-chain Gas was once pushed to 45 Gwei.

The entire network started to congest.

🔥

This kind of move is completely different from retail traders' re-accumulation.

📚

More importantly.

20k ETH might just be the beginning.

👀

According to their publicly stated target configuration.

There are still gaps of hundreds of thousands of ETH to be filled.

💰

For the market.

The biggest positive isn't how much has been bought.

But how much hasn't been bought yet.

🔥

Meanwhile.

The derivatives market is also starting to change.

📈

Funding rates flipped from negative to positive.

Annualized rate once soared to 12%.

📊

What does this mean?

Simply put.

Previously, shorts paid.

Now, longs are paying.

💰

It indicates that the leverage direction in the market has shifted.

📚

Spot buyers are sweeping in.

Futures traders are increasing leverage.

Both sides are exerting effort simultaneously.

This is like rushing to buy at a discount in the last ten minutes of a supermarket sale.

👀

On-chain Gas was once pushed to 45 Gwei.

The entire network started to congest.

🔥

This kind of action is completely different from retail traders' re-accumulation.

📚

More importantly.

20,000 ETH might just be the start.

👀

According to their publicly stated target configuration.

There are still gaps of hundreds of thousands of ETH to be filled.

💰

For the market.

The biggest positive isn't how much has been bought.

But how much hasn't been bought yet.

🔥

Meanwhile.

The derivatives market is also starting to change.

📈

Funding rates flipped from negative to positive.

Annualized rate once soared to 12%.

📊

What does this mean?

Simply put.

Previously, shorts paid.

Now, longs are paying.

💰

It indicates that the leverage direction in the market has shifted.

📚

Spot buyers are sweeping in.

Futures traders are increasing leverage.

Both sides are exerting effort simultaneously.

This is like rushing to buy at a discount in the last ten minutes of a supermarket sale.

👀

Many retail traders are still studying:

Will ETH drop by $10?

Will it rise by $20?

📉📈

But big funds never look at these.

They look at the next few months.

Even the next few years.

📚

So the biggest change now might not be the price.

But the pricing power.

⚠️

In the past, ETH's rise depended on retail sentiment.

On the bull market stories.

On FOMO.

🔥

But now.

More and more institutions are directly entering.

More traditional funds are participating.

💰

As the chips on the game table grow larger.

The rules will slowly change.

👀

Of course.

This doesn't mean ETH will definitely keep rising.

The market will never be that simple.

📚

But one thing to note:

While most people are still discussing liquidations.

The real big fish have already started feeding.

🦈

And the most expensive mistake in the market.

Is often mistaking institutional accumulation.

For a rebound during retail traders' panic sell-off. #沃什首秀美联储利率不变 #Gate现货交易量增幅全球第一