A seasoned trader recently made a move—adding $1.2 million in funds in one go, continuing to hold a large position bullish on Ethereum. Currently, he holds 4,500 ETH, with a total position value of about $12 million. The account currently has an unrealized profit of $58,000.

This move is indeed quite bold. From a trading logic perspective, he is only going long, not hedging, fully betting on the market to rise further. Of course, making money this way is great, but what about during a bear market or sideways trading? Continuous funding fees are deducted, and watching the principal bleed out is truly uncomfortable.

But on the other hand, this is just how the market works—some reduce risk through hedging, while others choose to go all-in on their bets. This guy clearly belongs to the latter. Whether ETH can continue its upward trend depends on the upcoming performance.