A large on-chain transfer has attracted attention: a whale dumped 41.91 million USDT last October to buy 378 WBTC, at that time priced just over 110,000 each. After holding for over two months, all of it was transferred to a major exchange yesterday early morning, with the listing price now only around 90,000. This operation resulted in a direct loss of over 7.6 million USD—the brutal reality of spot market trading laid bare.

The timeline is straightforward: BTC's price dropped nearly 20,000 per coin from when he entered. In just two and a half months, millions of dollars of capital shrank significantly. The risks of entering at high levels and holding for a short period are clearly visible from this account.

To be honest, following whales' operations requires extreme caution. Their capital size means a loss of 7.6 million might just be a part of their portfolio adjustment; ordinary retail investors playing the same game could be wiped out instantly. The key is to keep a close eye on your own stop-loss levels—don't be blinded by the aura of big players, and don't expect to catch every wave of the market.

Looking at the current trend of WBTC, the market's volatility is intense enough to teach anyone the importance of caution. The crypto market is never short of opportunities, but it also never lacks risks. Before the next wave arrives, securing proper risk control is the true path to long-term survival.