10.11 This transaction is very typical. A major account's dramatic fluctuations within a week serve as a textbook example of the opposite—going from a floating profit of $30 million to a loss of $42 million, with the turning point right in that short-selling market.

Just looking at on-chain data, you can feel this kind of volatility: the position changes on BTC and ETH short positions are clearly visible, from the bearish signals to the eventual stop-loss exit. The whole process is like a trader's psychological journey.

If you followed this short position, looking back at the data, you'll find that the entry timing and position management of big players actually hide many details—whether successful or losing, they reveal the market's true tug-of-war during that period. The correlation between BTC and ETH also makes for an interesting case; the flow of such large positions often reflects the true attitude of institutional funds.