The market during the Christmas holiday is a bit strange — on the surface, everything seems calm, but on-chain monitoring data tells a different story.

Those big whales who usually control the market rhythm have recently "played dead." According to on-chain tracking, several top wallets are showing astonishing unrealized losses — a well-known BTC holder's address is nearly $50 million in the red, another major holder has lost over $30 million, yet these folks haven't moved at all for a week. What does this signal?

From a market psychology perspective, this isn't a good sign. Whales are usually very sensitive to market movements; sitting idle while losing money indicates they are also uncertain about the future trend. What does this mean? Uncertainty is too high, even professional players dare not act rashly. For ordinary investors, this is a red flag — stop believing in the narrative of "following big players to make gains."

But on the other hand, this might not be a bad thing. Whales holding back could be gathering strength, waiting for a clear direction. True opportunities often hide in such silence. The key is how you respond.

Here are some practical tips: First, don't blindly follow the trend. Big whales can afford losses, but your capital might be your entire life savings. Second, strictly control your positions and only use idle funds. Leave all-in bets to institutions with unlimited capital. Third, stay rational. Don't get carried away when prices rise, don't panic when they fall. Plan your strategy according to your risk appetite, keep an eye on market dynamics but don't be drowned in noise.

In short, the crypto world is never short of opportunities; what’s lacking is patience and discipline. Market sentiment will remain cautious, volatility is inevitable, but this is not the end. Stay calm and wait until the overall trend becomes clear before jumping in — that’s a hundred times better than rushing to buy. Keep your rhythm steady and focus on your own affairs.