AguilaTrades, a well-known cryptocurrency trader with a profit of $77.36 million, has closed all his long positions after experiencing a series of significant losses.
Trader AguilaTrades' Losses
AguilaTrades' trading career this year has ended with a series of losses amounting to around $15.4 million over the past 15 years. Following significant losses, the trader decided to close all his long positions.
Details of Recent Trades
Recently, AguilaTrades opened a large long position on Bitcoin (BTC) on the Hyperlinquid platform. However, the trade backfired, resulting in a loss of over $12 million. According to analysts from Lookonchain, the trader opened positions using 20x leverage, increasing risks and eventually leading to substantial losses.
Current Cryptocurrency Market Situation
Bitcoin is currently trading at $104,677, down by 0.1% over the past 24 hours. Over the past week, Bitcoin has fallen nearly 5%, despite impressive ETF inflows.
The situation with AguilaTrades underscores the risks associated with high-stakes trading in cryptocurrencies. The trader has chosen to exit positions following substantial financial losses.
