Behind the myth of sudden wealth in the crypto world, there are always hidden dangers you cannot see — while retail investors are still staring at K-lines guessing price movements, whales have long set traps on the 'line of life and death' at $4700 using on-chain data and options weapons!
Early Morning Raid: A meticulously planned 'Dimensional Strike'
At 1 AM yesterday, an anonymous whale pulled off a 'dark operation' on the Ethereum chain: first mixing in 3800 ETH using Tornado Cash to perfectly avoid exchange monitoring, and then smashing down a $100 million short position at the $4730 level. This is not an ordinary short — Deribit data shows that the liquidation line at $5350 is precisely positioned at the maximum pain point price for ETH options, indicating that this is an institutional strike against the spot market! In simple terms, institutions set a 'harvest price' with options, then use the spot market to trigger retail leverage, effectively eating from both hands.
Have retail investors become 'human ATM machines'? This data is shocking.
Those rushing in to buy the dip now may be handing 'money' to the whales! Binance's heat map shows that there is $470 million in leveraged long positions piled up in the $4700-$4800 range. Once these 'ticking time bombs' are detonated by short positions at $5350, ETH may directly break through the $4300 support level. Even worse, the perpetual contract funding rate has surged to 0.15%, with longs having to pay millions in 'protection fees' to shorts every 8 hours — what you think is buying the dip is actually prolonging the life of the whale's short position.
Beware! The outcome of this showdown has already been predetermined.
Don't be fooled by the calls saying 'a reversal will happen once it breaks $5350'! If the price really shoots up, the short whale may lose $100 million, but the options market maker has already hedged by selling call options, so in the end, it's the institutions that make money; if it falls below $4550, the $90 million long positions on BitMEX will collectively be liquidated, causing a chain reaction of liquidations. Regardless of whether it goes up or down, retail investors are the ones being harvested — this is the brutal truth of the crypto world: you think you're betting against the market, but your opponent is the whale wielding data weapons.