I recently came across a seasoned industry investor's perspective, which I found quite interesting. He said that his team has been systematically increasing their ETH holdings since the major dip in October, and they have now become the largest bullish camp in the industry. A few days ago, their research institution added another 11,500 ETH, which, based on the current price, amounts to nearly $35 million.

His logic is as follows—although the market is currently full of bearish voices, the open interest in futures contracts has actually reached a new high, which indicates that the price control is in the hands of the bears. This situation often signals that a bottom has already formed. He is optimistic that there will be a market rally in the first quarter of next year, reasoning that 2026 will be a year of on-chain finance, stablecoin applications, a global interest rate cut cycle, and the concentrated release of favorable policies.

In addition to heavy ETH holdings, he also allocated positions in WLFI, BTC, BCH, and BNB. In simple terms, he is not bothered by a few hundred dollars of volatility but instead continues to build positions at the bottom, betting on the medium-term big trend.

The underlying issue reflected by this approach is worth pondering: when most people are still on the sidelines, the rhythm of large capital deployment often leads the market by a few steps. Whether to follow the emotional swings or to plan according to one's own rhythm may determine the gains for many in the next cycle.