BTC Trader Faces Losses After Consecutive Market Corrections

According to Odaily, on-chain analyst Yu Jin reports that trader AguilaTrades has faced significant losses after increasing his long positions in Bitcoin (BTC) to over $400 million twice, only to encounter consecutive market corrections. Initially, AguilaTrades saw a floating profit of $10 million, which has now turned into a floating loss of $1.51 million. Previously, after raising his BTC long position to $434 million, AguilaTrades was forced to close his position due to a market pullback, resulting in a loss of $12.48 million. In the early hours of today, he increased his position again to over $400 million at a high point, but BTC experienced another correction, prompting him to reduce his holdings. Currently, AguilaTrades' position has decreased from $420 million to $350 million. His current position includes a 20x long on 3,317 BTC, valued at $350 million, with an opening price of $106,014 and a liquidation price of $99,878, resulting in a floating loss of $1.51 million.