#数字资产市场动态 Whale suddenly liquidated $270 million in short positions, running away after only losing $50,000—what's behind this?

Recently, there's an interesting on-chain signal: a top wallet closed a high-leverage short position with a very shallow stop-loss. This isn't forced liquidation but a decisive retreat based on precise judgment.

Let's look at the clues left on-chain:

**Mid-December's actions** were the most aggressive—selling off 255 BTC in one go to realize gains, then immediately opening 10-20x leveraged shorts, with a pace that was hard to believe. This indicates that the main players already have a clear understanding and are very confident in their directional judgment.

**Today's closing of positions** is quite interesting. It's not because the market hit them hard (they only lost $50,000), but rather as if they sensed a trend reversal ahead of time. Liquidity is being quietly drained—SEC regulatory window, ongoing asset liquidations from FTX, and heightened institutional risk aversion—all these pressures are silently accumulating.

**My judgment remains unchanged**:

During this end-of-year period, the market is like a stretched rubber band, with liquidity tightening. Once selling pressure converges into a force, even seemingly solid support levels won't hold. Instead of chasing rebounds, it's better to hold cash and wait for clear signals from the market.

Better to miss a wave of opportunity than to catch a falling knife. Whales leaving the market often lead the market by a step—this time, it's not the end but the eve of a storm. $ETH

Stay calm, keep your bullets ready, and let the market find its own direction.