#比特币流动性 Christmas Holiday On-Chain Spectacle Continues🎄

December 25th, on-chain address data monitoring revealed an interesting phenomenon — during the holiday, most major holders chose to "wait and see," but their positions are more aggressive than ever.

The most hardcore is an address linked to a former senior executive of a leading exchange. This individual has been holding a floating loss of $48 million for a week without moving, with a main long position showing over $41 million in unrealized losses. The total account size is $720 million, still firmly ranking first among ETH longs on Hyperliquid.

Following closely is a "benchmark influencer" account, which employs a dual long strategy on ETH and XRP, with a combined unrealized loss of over $30 million — this week, it has also remained unmoved. Currently, it is the largest XRP long and the second-largest ETH long on Hyperliquid.

There is also the account pension-usdt.eth, which uses 3x leverage to go long ETH, with a position size of over $8.8 million. The loss is relatively moderate, and the liquidation line is still some distance away.

But the market is never short of tough players. An "ultimate short" account has become the big winner of the Christmas holiday — a BTC short position with an unrealized profit of $12 million (return +548%). It has already realized $57 million in profits this month, with take-profit orders in the range of $67,000–$76,000.

Even more exaggerated is a "shanzhai short leader," which has earned $83.14 million in less than two months through multi-asset short operations. It remains the largest short holder on ASTER.

This is the true picture on the chain: some grit their teeth and hold on despite huge losses, while others quietly harvest profits. The crypto market during Christmas holiday is more exciting than you might imagine.