Recently, on-chain data has been telling stories again. Several key whale operations reveal the unseen battles between bulls and bears.

The bullish side looks fierce, but their tactics are quite sophisticated. An OG-level whale transferred 112,894 ETH to an exchange, valued at $332 million. The key point is that it was a transfer in, not a sale—this move hints at two possibilities: either preparing ammunition for a large upcoming operation or planning to conduct bulk trades through OTC channels. This isn't dumping, but more like tactical repositioning; subsequent movements should be closely watched.

At the same time, someone placed a bullish buy order at $2980. This price level is interesting—indicating confidence in a short-term rebound but clearly not blindly optimistic. This restrained bullish attitude reflects the current market's rational stance.

The bear side's tactics are even more intriguing. A major player closed out $271 million in short positions, with only an $180,000 loss, and quickly exited. In the volatile crypto environment, this small loss is almost a perfect stop-loss. This isn't a defeat but a sign of active retreat.

But immediately, a new whale appeared, dumping $4.35 million with 1x leverage to short LIT. What does using 1x leverage for shorting indicate? It shows they’re not chasing high-leverage thrill profits but are making a clear directional judgment—with strong confidence. LIT seems to have become a new focal point of contention.

The current market picture is like this: various funds are buying high and selling low, without forming a unified bullish or bearish force. The ETH transfer by OG whales appears to be strategic positioning, short-term traders are operating in waves, and the bearish camp shows clear differentiation. This combination of signals points to one conclusion—the probability of sideways movement is much higher than a single-sided surge or plunge.

The advice is straightforward: don’t be fooled by the words "whale movements." The key is to understand the true intentions behind their actions. Currently, the market is clearly in a period of bullish-bearish divergence. The best strategy is to avoid assets heavily shorted (like focal points such as LIT), focus on mainstream coins that are mispriced or undervalued, maintain a moderate position, and stay flexible in operations.

Remember one thing: when whales fight, we don’t have to be cannon fodder, but we can be surfers observing the wave directions.