In the crypto market at the start of the year, understanding where the whales are moving their funds is often more insightful than just reading K-line charts.

In mid-January, an on-chain address completed what can be called the most aggressive position adjustment of the year — this whale first decisively cut losses on FARTCOIN and PUMP, two meme coins, enduring over $220,000 in losses, then immediately used 20x leverage to heavily bet on the three major mainstream assets: BTC, ETH, and SOL, with a single position reaching $471 million. This not only broke the record for the largest long position by a single address at the start of the year, but also reveals a deeper logic worth pondering — the market’s money is quietly shifting from "emotion-driven" to "value anchoring."

**The resolve behind cutting losses**

First, let’s look at how this whale liquidated positions. The loss on FARTCOIN was about $85,000, and on PUMP about $138,000. At first glance, these losses are not small, but interestingly — this whale didn’t sell all at once, but gradually over multiple days. Why? To avoid breaking the liquidity of small-cap coins. This detail actually reflects a risk consideration typical of professional traders.

**A new posture of concentrated firepower**

After cutting losses, the funds were immediately concentrated. The allocation to the three major mainstream coins is very high, still using 20x leverage — a very aggressive signal. It indicates that this trader has a high level of confidence in the current trend of these mainstream coins; otherwise, who would dare to play so boldly?

**Signals of capital migration**

This move may seem like just a personal decision of a big player, but it reflects a broader market trend — meme coins, which retail traders are hotly speculating on, are gradually being cooled off by institutional-level traders, while fundamentally solid top-tier coins like BTC, ETH, and SOL are attracting more and more serious capital.

From "I’m betting this new coin will explode" to "I’m leveraging up to bet on these three most stable mainstream coins," there is a clear upgrade in market mentality — shifting from speculation to strategic allocation.