The Fall of a Major Cryptocurrency Whale Was Also Significant: A Loss of 35 Million Dollars – Here Are the Transactions and Critical Mistakes It Made
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According to data from cryptocurrency analytics platform Lookonchain, famous trader AguilaTrades has lost more than $35 million in the past two weeks. Looking at the trader’s position history, he consistently opened long positions before the Bitcoin (BTC) price rose, but never took profits by increasing his position during the rise. This strategy forced him to close the position with a huge loss when the prices fell sharply. On June 8, AguilaTrades created a new wallet and started trading BTC perpetual futures by transferring 39.18 million USDC from the Bybit exchange to Hyperliquid. However, in just two weeks, his account dropped to $4.09 million. A breakdown of the whale wallet’s transactions went like this: June 9: Opened a long position in BTC, his profit increased to $5.76 million but he did not sell. After the decline triggered by the Israel-Iran conflict, he closed his position with a loss of $12.47 million. June 15: He opened a long position again, his profit reached $10 million, but he did not sell again. This time, he lost $2.95 million as the price fell. June 20: He took a long position for the third time, making a profit of up to $3.2 million, but once again he did not take a profit. He closed his position with a loss of $17 million as the BTC price fell. Related News: Everyone Focused on the US and Iran, but the Fed Quietly Implemented a Bullish Development for Cryptocurrencies After three failed long positions, AguilaTrades went short, but now has another $2.33 million loss as BTC continues to rally. Lookonchain notes that AguilaTrades opened positions with the right timing each time, but grew the position without taking profit during the rise, and was eventually forced to close positions at a loss when it approached liquidity levels. *This is not investment advice. Continue Reading: The Fall of a Major Cryptocurrency Whale Was Also Significant: A Loss of 35 Million Dollars – Here Are the Transactions and Critical Mistakes It Made
Source: BitcoinSistemi
