Everyone has been discussing a crazy on-chain message recently, which indeed caused quite a stir among retail investors. That wallet, silent for a full 8 years, suddenly came back to life, holding 50,000 core mainstream assets, and is now making an operation that’s hard to understand—continuously increasing positions.

Even more astonishing, these positions are already floating a loss of $78.3 million. Normally, ordinary retail investors would have long since gone crazy and cut their losses, but this big player keeps buying more. Many criticize him for being trapped and foolish, but I have to say, a whale who can survive 8 years in this circle without dying isn’t lacking in brains.

Why do I say that? Let’s first look at this person’s trading history. During the most volatile periods, he accurately shorted the market, earning nearly 10 figures in one move. More importantly, his trading rhythm repeatedly aligned closely with U.S. policy trends and even Trump’s movements. Such precision suggests either insider information or a deep understanding of market cycles.

How could such a trader recklessly buy during a decline?

Let’s break down his current logic. To judge whether large funds are gambling, the core points are: the underlying logic of the operation and risk resistance. This round of increasing positions has a very clear logic—continuously deploying in the decline zone, essentially bottom-fishing. His judgment is that the current price level is worth locking in positions. This is not a gambler’s mentality, but a strategic layout.