During the recent downturn in the cryptocurrency market, a noteworthy phenomenon has emerged. According to real-time tracking data from the on-chain monitoring platform Hyperinsight on January 22, a well-known counterparty significantly increased their long positions over the past two hours, clearly seeing an opportunity amid market volatility.

Specifically, this operation was quite aggressive. They added 15,468 ETH to their long position, worth approximately $45 million; simultaneously, they increased their BTC holdings by 488.8 BTC, about $42.9 million; and also added 142,986 SOL, roughly $18.15 million. After this series of actions, their total position value has surpassed $400 million.

However, on the other side of the story, as of press time, this massive position is now floating at a loss of $6.82 million. Over the past week, it has accumulated a loss of $27.6 million. Looking at the positions across different cryptocurrencies, ETH longs (15x leverage) have the largest unrealized loss at $5.99 million; BTC longs (20x leverage) at $1.27 million; SOL longs (20x leverage) at $356,000. However, they also hold a small DASH short position with an unrealized profit of $790,000, slightly offsetting some losses.

This case exemplifies what is called "adding to positions against the trend" — daring to increase holdings in a declining market requires a unique judgment of market trends and also entails bearing higher risks.