(Trading Monitoring) This morning, I kept an eye on an interesting whale activity—closing a $15.25 million ETH long position and making a 90,000 yuan profit. It sounds like a lot, but for this scale, it's really just a drop in the bucket.

What does this indicate? This address isn't making directional bets at all; it's purely high-leverage minute-level scalping. The position was closed at 18:03. I checked its historical records—last night, it opened a short position to smash the market from the same address, engaging in both long and short trades within 24 hours. This kind of play isn't very meaningful for retail traders; instead, it signals that big funds no longer have the courage to bet on a direction and are only riding short-term waves.

On-chain data provides clearer insights:

Funding rates are still positive, indicating retail long positions haven't exited en masse; however, ETH transferred into exchanges by large amounts has decreased by 30% compared to this morning; overall, whale wallets have been reducing leverage since early morning.

Combining this information, my judgment remains: ETH is stuck in a range of 2550-2680, oscillating repeatedly. Until there's a clear breakout, any whale activity is just market noise. My personal trading strategy is to build longs in stages around 2580, take half off at 2620, and set a stop-loss on the remaining position at the cost basis—allowing me to catch the wave's upside while preventing sudden sharp drops.

The key is not just to follow news hotspots but to see who is moving positions behind the news and how they are doing it.