#市场情绪与链上结构 When I saw this message, the first thought that flashed through my mind was: this brother's operational logic, to some extent, reflects a true microcosm of the current market.

Over 58 million in unrealized losses, yet still adding to SOL. Behind this seemingly crazy move are two opposing market forces—one is technical pressure, and the other is steadfast belief. I have experienced many cycles; this scenario is not unfamiliar.

The madness at the end of 2017, the despair of 2018, the frenzy of 2021, the liquidation of 2022... Every time, someone continues to add when they are losing money. Some turn their fortunes around, while others are forced out. The key has never been whether they dare to add, but whether they do so at the right time.

The interesting aspect of this position lies in its structure: ETH's unrealized loss is the largest (49.39 million), which suggests the position was opened relatively early, while SOL, although with the smallest unrealized loss, is the most recently added. This layered approach reveals that this whale's risk assessment of different assets is undergoing adjustments.

What is truly worth reflecting on is: when the on-chain structure is still oscillating and market sentiment is still fluctuating, why does large capital still choose to add at this point? Is it because a bottom signal has been confirmed, or is it just a gambler's psychological confrontation? History tells us that this often becomes a signal of a turning point—not necessarily accurate, but thought-provoking enough.