Recently, the crypto market has been both thrilling and surreal. Ethereum (t-52) has been on a roller coaster ride, with large players betting hundreds of millions, while retail investors are shivering with fear; meanwhile, Avalanche (t-54), which has been overlooked by many, has also quietly begun to rebound📈.
Watching the prices of ETH and AVAX rise and fall, do you feel a bit uneasy? Don't worry, there are stories behind this market movement.
🐳 Let's talk about Ethereum: whales are opening large positions, who is betting on the rise under pressure?
At the same time that many retail investors are panicking, on-chain data shows that a whale-level 'big player' directly placed a long position of 101 million USD, with an entry price of 2247 USD, using 25x leverage! This isn't gambling; it's a race against time⚡️.
In the end, this whale made 950,000 USD, but! The transaction fees alone cost 2.5 million USD, which means that although they made a profit, the cost was not small.
What's more astonishing is that this big player also withdrew 18,000 ETH from Binance, worth 40.38 million USD, with a total holding of 50,256 ETH, valued at approximately 112 million USD at the current price.
Although there is currently an unrealized loss of 2.24 million USD, they are not worried, because the big players never look at the market for just one or two days.
🌍 The situation in the Middle East has stirred things up, causing ETH to suddenly plummet.
The recent sharp drop in ETH was also fueled by macro events—military strikes by the US on Iranian nuclear facilities caused panic in the market, driving ETH down to 2113 USD, a new low in nearly a month.
Trump also said this is a 'huge success', but the market doesn't care about that, the risk-averse sentiment has surged, and cryptocurrencies have plunged. ETH once fell to a level that made people question their lives.
🧠 Whales are bottom-fishing while retail investors are watching.
On-chain data shows that these whales dare to enter heavily in such a panic atmosphere because they have low costs, long timelines, and diverse strategies, demonstrating patience and strength. Meanwhile, many retail investors panic and rush to cut their positions as soon as they see a drop.
But take note, if ETH can stabilize above 2200 USD, the potential rebound may exceed expectations. Conversely, if any new geopolitical conflicts arise, ETH may drop again.
❄️ Looking at AVAX: the rebound has come, but the danger has not passed.
Now let's shift our focus to another coin—Avalanche (AVAX). Since June 11, AVAX has been on a downward trend, dropping 26% in just two weeks. However, this past Monday, AVAX suddenly rebounded by 9.26%, almost like a 'flashback'?
According to on-chain data, 'smart money' (institutions or large players) is quietly increasing their positions, while retail investors are choosing to cash out and even short in the derivatives market.
🔍 On-chain activity has surged, is there money entering the market behind it?
The number of active addresses for AVAX has surged by 204%, indicating that the market is starting to show some 'activity'. Although it hasn't returned to the April highs, it is already considered a 'rebound'.
From a technical perspective, AVAX has once again tested the support level of 16 USD, and is now approaching the midpoint price of 19.5 USD. If it can break through smoothly, the next target may be 22.9 USD.
BUT! Don't celebrate too early; the current momentum indicators are still bearish and buying pressure isn't strong. Daily trading volume hasn't expanded, indicating that capital hasn't truly 'returned to full health'.
📉 Most holders are still at a loss, feeling immense pressure.
Data also shows that currently, 65.95% of AVAX holders are in a losing position, which means that once the price breaks even, it is likely that many will sell off to escape. So even if there is a rebound, it may be 'hard-fought'.
From 54 USD last December to just over 18 USD now, AVAX has been halved and halved again, with a total drop of over 66%.
📊 Summary: Whales are desperately bottom-fishing; retail investors should hold their excitement.
Whether it's ETH or AVAX, large funds have already taken action, but the overall market is still relatively weak.
Whales dare to go ALL IN because they have the capital to withstand risks; however, if retail investors rush in recklessly, they might accidentally become 'bag holders'.
So, be cautious in the short term and manage your positions well in the long term. Don't be fooled by the whales swimming fiercely; we small fish need to survive🐟.
DYOR, manage your risk, and may you all set sail in the crypto world!🌊
🔁 Welcome to like and share with your crypto buddies, don't forget to follow me for more insights on the latest developments in the crypto world!📤
💬 If there are any projects you want to discuss, feel free to join us! Let's explore the crypto world together and cheer each other on😎
