During the Christmas holiday, the movements of on-chain whales always reveal subtle market changes. According to on-chain address monitoring data, most top whales remained relatively calm during this holiday, but the actions of a few key participants are still worth paying attention to.

The whale known as "BTC OG Insider Player" has been mostly on the sidelines over the past week, holding positions that are currently floating at a loss of over $40 million, with no new buy or sell actions for now. In contrast, another whale known as "CZ Opponent" has been more active — this whale has been continuously long on ETH and XRP during the holiday period, with a current unrealized loss of $30 million.

Interestingly, this BTC OG whale was still increasing its positions on ETH and SOL to average down its costs as recently as the 18th of last week. This shows that even during the holiday, large players are still adjusting their strategies. These on-chain movements often help us understand the true thoughts of market participants at different stages.