Recently, I came across a quite intriguing trading case.

A newly created wallet on a certain leverage trading platform used $5 million USDC to open positions—5x long on LINK and 10x long on DOGE. Logically, this amount of capital should have caused some waves, but currently, the entire position is floating with a loss of about $600,000.

What does this phenomenon reflect? First, it’s a risk warning. Whether retail investors or large funds, in such high leverage and high volatility environments, a single misjudgment can lead to an instant lesson. Those blindly chasing highs and casually adding leverage will not be given special treatment by the market. Everyone can fall into traps, and the size of funds doesn’t change the market’s ruthlessness.

But on the other hand, there’s another layer of logic. This big account is currently only floating with a loss; the account is still alive, with no liquidation or forced closure. Entering the market with such a large amount, their original intention was definitely not so simple. If they want to get out of trouble or even reverse the situation, they might need to "pump" the market later to recover or cut losses. And this force could potentially become a support or driving force in the market.

So, this case is both a short-term bearish signal (confirming the selling pressure above) and may hide a mid-term "main force self-rescue" script. On the surface, it’s a story; at a deeper level, it’s a game of strategy. As long as there’s no liquidation, the game continues.