#加密市场观察 #Max

$6 billion floating loss under "stubbornness": How will the market move when the whales choose to "hold on"?

A piece of data is staggering: the large institution BitMine, holding 4.24 million ETH, is currently facing an unrealized loss of $6-8 billion. However, their reaction is not a panic sell-off, but rather a firm assertion that this is a "characteristic rather than a defect" of their long-term strategy, and they are even continuing to accumulate.

What does this reveal to us?

1. The real play of institutions: For whales with long-term capital and clear beliefs, short-term floating losses are bearable "volatility costs"; their focus is on years ahead, not the present.

2. Potential market pressure: Such a massive floating loss is essentially a looming "potential selling pressure". Once the price rebounds to their cost area, it may trigger large-scale cashing out, forming strong resistance.

3. The double-edged sword of belief: "Holding on" and "accumulating" can be good opportunities to accumulate positions during a deep bear market, but they may also evolve into a "liquidity trap".

My thoughts: This reminds us that the market consists of participants from different time dimensions. Short-term traders focus on price fluctuations, while long-term whales are laying out a future narrative that we have yet to see. For ordinary investors, instead of blindly following the "hold on" strategy, it is better to clearly identify: are you investing in a short-term trading target, or a long-term vision willing to be validated by time and losses?

True long-termism is not just about "holding"; it is also about continuously investing resources in the process of creating value. As I observed in the @Max Charity community, they are not entangled in the short-term floating loss of token prices, but are steadfastly investing their energy and resources into offline education promotion and charity network building—this ability to transform crypto capital into real-world impact is the "hardcore characteristic" that transcends any market cycle.