#数字资产市场动态 Recently noticed an on-chain message and want to share the underlying logic with everyone.

Some large traders are building positions simultaneously on BTC and HYPE. They are using 40x leverage on BTC, with an average entry price around $93,141, and 10x on HYPE, with a cost basis of about $24—there are indeed some unrealized losses on the books now, but this operation itself signals a lot.

Many people shake their heads at the unrealized losses, but those who truly understand on-chain behavior are aware of what's going on. This kind of high leverage long position taken simultaneously is usually not for short-term volatility speculation but indicates a strong confidence in the upcoming market trend. Especially when market enthusiasm hasn't fully ignited yet, big funds are already placing real money bets, which definitely hints at something behind it.

Corresponding to some recent on-chain indicators I’ve observed:
- The flow of large BTC into exchanges is shrinking
- Long-term holders show no signs of selling
- Some altcoin liquidity pools continue to see inflows

These data points corroborate this wave of activity.

My consistent view remains: this market cycle is still in the gestation period until 2026. We are currently in a window for quiet accumulation. Whales daring to leverage high at this price level probably have caught onto fundamental or macro logic that we haven't yet noticed.

That said, high leverage can be risky, and retail investors should avoid copying it. But what’s valuable is paying attention to the footprints of big funds—they are often the most sensitive market indicators. If BTC can hold above $93,000 and gradually push higher in stages, a new wave of capital flow could gradually unfold.

Don’t get caught up in the short-term fluctuations. The real big move always quietly starts when "most people haven't even reacted yet."

Keep observing, keep waiting.