AguilaTrades, a well-known cryptocurrency trader who gained prominence after making $77.36 million in profits over the past year alone, has closed all of his long positions after suffering a dramatic losing streak.
Recently, AguilaTrades opened a large long Bitcoin (BTC) position on Hyperlinquid, a popular derivatives trading platform. The bet misfired, with the trader losing more than $12 million.
On June 15, analytics platform Lookonchain reported that the trader opened another massive Bitcoin long with 20x leverage. The total value of the trader's position reached a staggering $200 million.
On June 17, the trader deposited another 1.8 million USDC tokens into the Hyperliquid platform.
Lookonchain noted that AguilaTrades was seemingly getting "greedy," refusing to take profits. The trader secured a massive profit of $5.8 million on the aforementioned long.
At one point, the trader was up by nearly $6 million. However, the trader ended up losing nearly $12.5 million.
The same scenario played out on Monday: the trader was up by roughly $10 million, but he ended up underwater due to failing to take profits.
Most recently, the trader took nearly a $3 million loss, eventually deciding to call it quits.
The trader has now accumulated roughly $15.4 million worth of losses over the past 15 years.
Bitcoin is currently trading at $104,677 after declining by 0.1% over the past 24 hours. The leading cryptocurrency is down by nearly 5% over the past week despite rather impressive ETF inflows.
Vladislav Sopov
U.Today Editorial Team