$45 Million USD "Invisible" Whale: The Evolution of Cat Lady's Trades

2025-12-22 10:50

Read this article in 18 Minutes

In the "Smart Money" leaderboard of Binance Futures, the long-standing leader is a peculiar avatar—a green cucumber cat. With no real face reveal, no flashy pumps, and no "always-win" attitude, this trader named Pickle Cat seems like a ghostly figure detached from the hustle and bustle. Unless you click into that astounding data column—realized total profits reaching as high as 45 million U.S. dollars—it's hard to connect this somewhat goofy-looking green cat to the fiercest hunters on the cryptocurrency battlefield.

Article Source: Binance

At the top of the "Smart Money" list on the Binance Futures leaderboard, there has long been a strange avatar—a green cucumber cat.

With no real face shown, no flashy market calls, no "always winning" claims, the trader known as Pickle Cat (hereinafter referred to as "Cat Sister") seems like a ghost detached from the hustle and bustle. Unless you click on that astounding data point—showing a real-time total profit of up to $45 million—it's hard to connect this somewhat silly-looking green cat to the fiercest hunters on the cryptocurrency battlefield.

Recently, this mysterious top-ranked master visited Binance's Chinese Community Telegram to have an in-depth conversation with host Sisi (@sisibinance) for over an hour.

Unlike the prevalent "get-rich-quick" schemes and "hundredfold myths," Cat Sister brought a retrospective on human nature, macro cycles, and self-reflection. She doesn't tell glamorous stories of overnight fortunes; she only recounts how she transformed herself into a true trader amidst countless impulses to act recklessly.

From the "false diligence" of high-frequency trading to the "legendary gains" of low-frequency swings, Cat Sister's story is a must-listen for every trader striving to survive in the candlestick chart.

1. The Trap of Diligence: When Proactive Measures "Lose" to Grandma

Cat Sister was not born as a top-ranked trader. Back around 2013, she immersed herself in this market that was then still dominated by geeks.

Back then, like the majority of retail traders now fixated on the one-second K-line or minute chart, she believed in "hard work pays off." She turned herself into an untiring trading machine: watching the market, opening positions, closing positions, and repeating. After a year, she captured almost every seemingly existing fluctuation, traded at an extremely high frequency, and even sacrificed sleep and life for it.

However, at the year-end review, reality delivered a resounding slap in her face.

"I did the math. After a year of non-stop high-frequency trading, accounting for fees, wear and tear, and losses from mental breakdowns, the final return on investment was actually lower than that of my grandma. And this hasn't even accounted for the opportunity cost of watching the market all the time." In the livestream room, Cat Sister revealed her past with a self-deprecating tone.

What did her grandma do? Just followed her advice at the beginning of the year, passively invested in Bitcoin, then did nothing, forgot about the account.

“That was the moment I realized that ‘diligence’ in the trading world might be a self-deceptive lie.”

It became the first watershed moment of her trading career. She took the pain as a lesson, simplifying the complexity. She realized that high-frequency day trading was a destined losing zero-sum game for most people. Not only are you playing against the market, but you are also playing against high fees, slippage, and your own fragile nerves.

Since then, she underwent a complete transformation. She kicked her addiction to ‘quick gains’ and shifted to low-frequency, low-leverage swing trading. No longer trying to catch every fluctuation of a candlestick, she instead, like a patient hunter, hides in the jungle, waiting quietly for the moment of macro and emotional resonance.

This seemingly ‘lying flat’ strategy, coupled with Sister Cat’s patient perseverance, propelled her onto the fast lane to a $45 million profit.

II. Macro Perspective: Finding Serenity Amidst the Printing Press

If you were to ask Sister Cat today what the most core influencing factor of the crypto market is, she would never discuss a candlestick’s bullish divergence or any ‘super mystical’ technical indicator.

“The old crypto world was a geek’s playground, devoid of macro perspectives. But now, the logic has completely changed,” Sister Cat pointed out incisively in a live stream, “Today’s crypto assets are the most sensitive to macro liquidity.”

In her trading system, there are two invisible main threads that are more important than any candlestick:

USD Liquidity Cycle: The printing press speed of global central banks, determining the depth of the water.

Real Interest Rates: The cost of money, determining the direction of funds.

“The logic is simple: as money printing accelerates, saving becomes increasingly loss-making, and funds naturally go crazy searching for scarce assets.” Sister Cat’s viewpoint has become entirely institutionalized. With the ETF approval, she believes institutions have already secured their tickets to enter.

Regarding the current market situation, she offered a highly insightful judgment: the market is transitioning from ‘retail sentiment-driven’ to ‘institutional structured positioning.’

On-chain data is her thermometer. She observed that, although the market seems calm, the proportion of long-term holders’ chips remains high, while speculative short-term chips have been sold off completely. What does this indicate? It indicates that institutions are methodically consuming the retail group's ‘risk budget.’

「As long as you don't act recklessly, it is currently most likely an institution-led slow bull market. Miss Cat predicts that once institutions finish positioning themselves, the market will enter another high-volatility phase. As for the endpoint of this cycle, she has given a bold timeframe: after Q1 2026, the tail end of the bull market may truly come to an end.

Three, Trading Philosophy: Discipline is not trained, it is 'endured'.

If a macro view determines the direction, then trading psychology determines life or death. This is also the most emphasized and heartfelt aspect of Miss Cat's live streams.

Regarding 'how to become a profitable trader,' she once had a widely circulated saying: 'Before becoming a profitable trader, you need to be liquidated at least three times.'

This is not an exaggeration. When Sisi asked about how to build discipline, Miss Cat's response was cold but real: 'Discipline is not something you practice in a demo account, nor is it something you can learn from reading a few trading psychology books. Discipline is 'endured'.'

‘Only when you have experienced a complete collapse, watched your account go to zero, had your pride stepped on and rubbed against by the market, that unforgettable pain, will it make you truly respectful.'

She divides this psychological rebuilding process into three steps:

Admit Mediocrity: Admit your current self is not up to the desired outcome. Do not rush to make up for lost ground for the sake of face; that is a step towards destruction.

Self-Reflection: External factors only influence due to internal factors. Don't blame the market, don't blame whales, don't blame external factors like Elon Musk's tweets. Ask yourself more: 'In what emotional state do I become an idiot?'

Utilize the Low Point: Only in a low point is your self-esteem at its weakest, this is your only opportunity to view yourself from a third perspective, analyze, and replay the underlying logic.

For those traders who always 'take profit early and let losses run,' Miss Cat provides an astounding 'psychological prescription.'

‘First, test yourself to see if you have an 'M physique.' She joked, 'If you can 'hold onto a losing position' very well, refuse to sell when at a floating loss, it shows your endurance is extremely strong; this is actually a talent.'

'What you need to do is not fight against your nature, but use it. Apply this super-strong endurance to pain to endure the drawdown of floating profits. When making money, you should hold on tightly like you do with losses; let profits run.'

Utilizing human nature rather than fighting against it is Cat Lady's trading philosophy.

IV. Narrative Upgrade: The Epicenter of the Next Storm

In addition to macro and psychology, Cat Lady has unique insights into the evolution of the market narrative. She believes that what will truly change the market in the next round is not a single technological upgrade but a narrative upgrade of consensus itself.

She has outlined a clear evolution path:

ICO Era: Protocols aggregated people who believed in the same story.

DeFi Era: Decentralized exchanges aggregated liquidity.

NFT Era: Aggregated culture, aesthetics, and resonance.

Meme Coins Era: Aggregated emotion, identity, and collective humor.

"You don't need to understand the technology; you just need to understand the meme." This is the social contract behind the Meme Coin craze.

Looking ahead, she is optimistic about the prediction market. In her view, this racetrack, which aggregates people's judgment of the future, combining grassroots consensus, immutable fairness, and borderless free flow, is highly likely to give birth to the next phenomenal opportunity.

"AI has solved the productivity problem, while cryptocurrency solves the flow and distribution of value." This broad perspective allows her to maintain a transcendent calm in the face of market noise.

V. Advice to Retail Investors: Don't Pick Up Coins under Giants' Feet

During the live call-in session, facing anxious retail investors, Cat Lady revealed her "down-to-earth" side.

One viewer asked, "How do you seize trading opportunities based on news events like Trump's tariffs?"

Cat Lady's answer was decisive: "Don't engage in high-frequency news-based trading."

"If you are trading based on news and you are a retail investor, you are always at a disadvantage. This is not trading; this is gambling," she explained. Institutions have lightning-fast terminals and vast information networks. Even if you calculate the trend before the institutions, they may still place orders before you. By the time the news reaches your phone, the market has already moved."

「Abandon day trading and stop playing the news. Shift to longer-term swing trading so that the impact of short-term noise on you can be negligible.」

For novice users, she is even more straightforward: 「Don't try to find a foolproof strategy because it doesn't exist. Novices must be willing to lose some money first (preferably on a demo account or with a small amount of capital). Because only through pain will you understand why those seemingly attractive shortcuts (such as heavy positions and all-in moves) lead to a dead end.」

Conclusion: The Definition of Winning

From a trading profit rate lower than "Grandma's DCA" to the top of Binance's Smart Money List, Sister Cat's story is more of a "Trader's Self-cultivation" than a get-rich-quick myth.

At the end of the live stream, she gave a simple yet profound definition of "winning":

「True winning is not about how much money you make in the market, but whether you can hold onto that money and use it to enrich your life.」

In this 24-hour casino full of madness, greed, and fear, Sister Cat is like a calm observer, using her experience to tell us: in this market, living long is more important than running fast; knowing yourself is more important than understanding candlestick patterns.

While most people are still anxious about the next candlestick's movement, that green cucumber cat may be quietly resting at the peak of the cycle, waiting for the next hunt to begin.

Important Note:

This article is for industry dynamics exchange and personal experience sharing only, not investment advice. The views in the article represent only the author's personal opinions and are not related to the platform's position. The content does not constitute any investment, financial, legal, accounting, or tax advice, nor does it represent a recommendation, offer, or solicitation to purchase any digital assets (including stablecoins and NFTs). Digital asset prices are highly volatile, and there is a substantial risk. Before making any investment decisions, please evaluate carefully based on your own situation. If you need professional advice, please consult your legal, tax, or investment advisor. Readers must understand and comply with the laws and regulations in their jurisdiction and assume their risks.