Today, no additional positions were added.

The reason is simple:
The price did not give me a reason to add.

Orders are still in place,
but the market has not risen to the level I set for adding positions.
So,
nothing has happened.

This is inherently part of trading.

Recently, market sentiment has started to heat up.
The year-end rebound can easily create illusions,
as if January will continue the trend.

But from the structural and capital behavior perspective,
January is more like a window for reallocation of chips,
rather than an acceleration phase.

Why should January be approached with extra caution?

First, the accounting cycle.

For large funds that have made profits,
selling in December and January follow two different tax and accounting logics.

Therefore,
persistent selling pressure in the first two weeks of January is not unusual.

This is not panic,
it’s settlement.

Second, institutional rebalancing.

By 2025, the overall increase in crypto assets has been significant,
making them overweight in many portfolios.

In the early Q1,
selling strong and buying weak is standard procedure.

So even without obvious negative news,
prices tend to be suppressed from above.

Third, technical structure.

ETH is currently still in the 2980–3050 battle zone.
Until it can effectively stabilize above 3200 at year-end,
I do not consider this position as a necessary add zone.

From a structural perspective,
the risk of lower highs still exists.

Why was there no action today?

Because my trading logic is not to do something every day.
If there’s no breakthrough to add positions,
if there’s no pullback to the entry zone,
then I continue to wait.

Not adding positions
is itself a choice,
and also a form of operation.

A common question about the market:

At this price,
aren’t institutions and big players losing money by selling?

The answer remains:
not losing.

Their real costs are far lower than market perception,
and currently, it’s more about rebalancing than clearing positions.

This is also why the market is not panicking,
but prices lack continuous upward momentum.

My current conclusion:
This is not a sentiment-driven chase.
Risks are ahead,
opportunities are below.
Orders remain valid,
waiting for the price to give a signal.

What I am waiting for
is not the direction,
but a genuine retracement that completes the chip clearing.

They are not losing money by selling,
they are making room for the next round.

$ETH ‌$BTC ‌