Bitcoin Veteran Trader Goes Long Again After $15 Million In Losses — Will Third Time Be The Charm?
Bitcoin (CRYPTO: BTC) is trading in a range, with sudden drops triggering losses for long-position traders. Despite this, bullish sentiment remains strong, supported by solid underlying fundamentals across the broader crypto market.
What Happened: On-chain tracker Lookonchain in an X post on June 20 noted that ByBit’s top trader AguilaTrades has gone long on Bitcoin once again, opening a massive 3,854 Bitcoin position worth $408 million, currently showing $3.2 million in unrealized gains.
AguilaTrades previously suffered $15.4 million in losses within 10 days, after failing to lock in profits. The trader’s most recent position flipped from a $10 million unrealized gain to a $2.5 million drawdown, echoing a previous trade where a $5.8 million profit reversed into a $12.47 million loss.
Now operating on Hyperliquid, where the trader moved after raking in $77.36 million in profits on ByBit in 2023, AguilaTrades is trading …
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