🎬 Script Perspective: Under the spotlight, he passionately depicts a magnificent blueprint of $BTC million and $ETH breaking ten thousand, every word igniting the audience's blood. Outside the spotlight, his fingers calmly tap on the keyboard, executing an entirely different set of instructions. This is not a movie; this is a top trader's real performance repeated over the past year.
Reviewing the market over the past year, a highly influential voice has always stood at the center of the stage. With profound macro insights and sharp writing, he has gained a large following. However, when we juxtapose his public statements with the actual operations of his on-chain wallet, a cold trading picture slowly unfolds. His logic of action can be clearly summarized into three types of strategies.
The first type of strategy revolves around projects for which he held tokens early on. This is essentially a game of information and timing that is completely unequal. A typical case is $HYPE. As an early investor, he has an extremely low cost. Last August, he publicly predicted that this token had a hundredfold potential at a large conference and showcased his buying operations. Market sentiment was ignited.
However, just a month later, before the token price dropped, his wallet address showed that he had cleared his position, profiting millions of dollars. He publicly explained this as 'avoiding token unlock risks'. Dramatically, months later, in mid-January of this year, he re-purchased about **$499,000** worth of $HYPE. Similar scripts have repeatedly appeared in projects like $ETHFI and $ATH.
For traders with vast amounts of capital, this may be the most standard operating manual: construct narratives with impeccable logic, attract liquidity influx, thereby creating the best window for their own chips to exit. The fervor of the followers is the fuel for self-fulfilling prophecies, while the peak of liquidity is the only time for whales to quietly exit.
The second type of strategy reveals that he is not always correct. When he tries to awaken some narratives that have cooled down or are too niche, the market does not buy it. At the beginning of last year, his family fund published a lengthy article strongly advocating for the decentralized science track, listing a group of tokens including $BIO and $GROW.
As a result, things went awry; the entire sector performed poorly, with most coins dropping more than **85%** from their highs. He himself also built a position worth **$1.1 million** in $BIO in August, ultimately depositing **7.66 million** $BIO into exchanges in late November, with an estimated loss of **$640,000**, a loss rate of about **-58%**. The $WILD, which he called 'the crypto version of GTA6', also fell silent with the retreat of the metaverse concept.
The third type of strategy may be the most exquisite capital maneuvering performance last year, with $ZEC as the protagonist. On the surface, he became the most fervent evangelist of $ZEC, claiming to have bought millions of dollars on the spot after being inspired by Silicon Valley figures at a private dinner, and in November last year shouted the slogan 'Target **$10,000**'. He even initiated a 'withdrawal movement', encouraging everyone to withdraw tokens to lock them on-chain.
Many people are closely watching his wallet, hoping to catch evidence of him secretly selling $ZEC, only to find that he not only hasn't sold but is also continuously increasing his position. The true purpose of this frenzy may not be $ZEC itself. On-chain data shows that during the time he was heavily promoting $ZEC, he transferred millions of dollars of $ETH and $ENA to exchanges. Market analysis indicates that these funds from the sale are very likely to provide 'ammunition' for increasing his position in $ZEC.
Due to the privacy features of $ZEC, he sold transparent $ETH and exchanged it for privacy assets that are difficult to trace on-chain. The public could only see him 'exiting', but could not accurately quantify his 'entry'. In the last two weeks of last year, he sold **1,871 $ETH** (about **$5.53 million**), turning to bottom-fish some DeFi assets he had previously abandoned.
In his investment framework, $ETH is more like 'strategic reserve capital' in the portfolio, needing to be sold when funds chase new narratives (like $ZEC) and still needing to be sold when funds bottom-fish old tracks. He attracted the attention of the entire market with the rise of $ZEC, but completed a calm position rotation while everyone was hotly discussing 'privacy revival'. It wasn't until the beginning of this year, when $ZEC plummeted due to team issues, that people realized that although his holdings shrank, he successfully avoided the worse-performing $ETH during that period.
Looking back at this year, as written in the background of his social media account, he is not a faith holder of a certain asset, but a shrewd businessman. He constructs dreams with words, aiming to attract liquidity; he harvests profits through on-chain operations, aiming to manage risks; he dares to quickly recognize mistakes and stop losses when wrong, aiming to protect capital.
Therefore, his macro analysis still has reading value, and his logic has been validated by the market. But before you are moved by his statements and ready to press the trading button, make sure to do one more action: don’t just listen to what he says, make sure to check what his on-chain wallet has done. In this brutal game, his loyalty to 'volatility' far exceeds his faith in any single project. And volatility is precisely the vehicle through which wealth is transferred from the pockets of the majority to the pockets of the few.
---
Follow me: Get more real-time analysis and insights on the crypto market!
$BTC
Binance Square