What tricks is the Whale playing?

The ETH market in October can be described as a grand spectacle: at the beginning of the month, whales collectively dumped 1.36 million ETH, and just over half a month later, they turned around and aggressively scooped up 218,000 ETH (approximately 870 million USD). This wave of operations is truly mesmerizing - selling at a loss on one hand, buying at the bottom on the other, what a deep strategy!

What's even more astonishing is that a wealthy whale spent 32 million dollars to buy 8,491 ETH in one go, while another withdrew 12,000 ETH (46 million dollars) from Binance, suggesting that these big players are starting to hoard coins. In the past, this was called "buying the dip," but now the market refers to it as "whales accumulating strength."

Interestingly, just as the Whales were gearing up, BTC broke through 115k in a week, liquidating over 3.6 million dollars in short positions. The PoolX limit couldn't even be reached.

On-chain data shows that this wave is not just a simple crash or bottom-fishing—some whales are starting to change their strategy, with some elite players closing long positions of 2,000 BTC, making a profit of 1.4 million before leaving. But more players are betting on a recovery, fully leveraging to continue going long.

Diamond hands vs paper hands ultimate showdown? It seems like the whales are betting on a rebound, and the next wave of market movement might really be coming.