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Another round of whale manipulation show.
The timeline is as follows — on the eighth day of the lunar new year, a major whale publicly started building a position in SOL. By the 17th, they had significantly closed their long positions in altcoins. As a result, when the market opened today, the entire market plunged. Coincidentally, the price of SOL just fell back to the $134 level, which was exactly the cost basis of that trader’s initial position.
This rhythm is quite interesting. Early deployment, timely take profit, perfectly avoiding today’s crash. Many people are still buying at the bottom, while others have already locked in profits and exited completely.
By the way, could this recent decline be the opportunity that some big players have been waiting for? From building the position to closing it, and then the crash happening, the entire logical chain is quite clear. Sometimes the market is so theatrical — savvy traders have already seen through it, while retail investors are still catching up.