Recently observed several active whale accounts in the market, their trading styles and profit/loss situations vary greatly, worth taking a closer look.

**Position Size Comparison**

First, let's talk about an account that recently sold 255 BTC. This whale holds a total value of about $457 million in BTC, ETH, and SOL, but currently has an unrealized loss of approximately $3.3 million. Interestingly, its recent trading strategy is to short DASH with 5x leverage while going long on DOGE with 10x leverage—this contrasting approach reveals its trading mindset.

In comparison, another larger account is worth noting. This "BTC veteran" has a position size of $910 million (also in BTC/ETH/SOL), with an unrealized profit of about $44.9 million. However, the cost is paying over $7.5 million in funding fees.

**Short-term Trading Rhythm**

The first account has been particularly active recently. Around January 14, it closed out long positions worth $413 million, realizing a profit of $14.5 million, then immediately reversed to a 20x leveraged short position—long BTC, ETH, and SOL. A few days later, it switched to a DASH short and a DOGE long. The hallmark of this approach is clear: not aiming for precise directional predictions, but rather relying on frequent switching and high leverage to capitalize on volatility.

From on-chain data, this account's accumulated realized profit has already reached $24.5 million. This indicates that although short-term unrealized gains and losses fluctuate, the long-term performance of the account remains positive. For such whales, single-position losses may not matter at all; what truly matters is the compound effect of the overall strategy.