On January 5th, there was an interesting on-chain operation. Data from a leading exchange shows that an active large holder just closed a BTC short position, incurring a loss of $11,000. But this guy didn't choose to hide in the corner licking his wounds; instead, he immediately went long with 20x leverage on 757.18 BTC, worth about $70.36 million, with an average price of $92,886.8. At the same time, he was not idle and used 10x leverage to buy in 2,854,502.6 FARTCOIN, investing about $1.1 million, with an average price of $0.3847.

This series of coordinated actions is indeed fierce. Even after being wiped out on the short, he quickly reversed his position and continued to push forward from another angle. This sense of rhythm is quite exceptional in the crypto circle. Thinking carefully, two things are revealed behind this: first, this large holder has his own view on the current market; after losses and stop-loss, he dares to re-enter heavily long, showing confidence; second, the crypto market is just this crazy—risks and opportunities are always close together. Today’s short could be tomorrow’s long.

From the perspective of BTC, buying over $70 million worth in one go can indeed shake the market. Although not the most exaggerated in the entire crypto space, the actions of big holders often influence follow-up traders. Such operations can sometimes create a demonstration effect, attracting other funds to follow and pushing prices higher. But on the other hand, the crypto market is affected by too many factors—macro economic trends, policy directions, market sentiment—relying solely on one big holder’s move won’t turn the tide.

Looking at FARTCOIN, a relatively obscure coin, being targeted and heavily bought by a big holder indicates they’re digging for opportunities. The crypto world is never short of new projects and tokens; some indeed have potential, but the risks are also soaring. The liquidity of small coins is often poor, and their price volatility can leave people spinning.

For ordinary retail investors, this event is both a lesson and a warning. Learning from big holders’ quick reactions and decisive stop-loss strategies is good, but don’t be tempted or blinded by such operations. Know your own limits; if your experience and risk tolerance are insufficient, blindly following is no different from self-destruction. The key to making money in the crypto space remains the same: stay calm, be rational, and control risks. Only then can you survive longer in this market full of opportunities and traps.