Established bearish cryptocurrencies frequently see "fish turning over," with aggressive market makers possibly being the driving force behind it

BlockBeats News, April 25 — Recently, long-established “falling then inching down” coins have seen a rotational surge pattern, and last night APE even doubled overnight without any favorable news, achieving a “miracle.” Notably, on-chain analysts spotted suspected APE whale “front-running” behavior immediately: a single user used only $170,000, executed precise long and short positions via contracts, and achieved 14x returns on APE in one night.

Multiple signs indicate that, in recent times, this kind of market movement involves highly similar trading tactics. Market makers profit by heavily controlling token supply and keeping tokens suppressed for a long time, then using funding rate tools in the derivatives market to create sharp price swings.

According to crypto KOL Crypto Fearless’s disclosures, during this Hong Kong conference, a market maker called HSBG became the subject of intense discussion among insiders. It is reported that this market maker earned more than $120 million in profit by managing only one project, RIVER. It is said that the market maker’s influence over project teams can rival that of CEXs, and they can even manipulate the token unlock schedule of the project.

As of press time, multiple tokens—including AXS and HYPER—are still seeing rotational upward moves. BlockBeats believes that participating in such trends is like “playing with fire,” with extremely high risk. If users want to get involved, they need to tightly control their positions and stay cautious.