Bitcoin Trader Faces Significant Losses Amid Market Downturn

According to PANews, on-chain analyst Yu Jin has reported that trader AguilaTrades is experiencing substantial losses from his third attempt to long Bitcoin (BTC), with an unrealized loss of $13.68 million. AguilaTrades has faced three consecutive unsuccessful long positions on BTC, resulting in total losses amounting to $29.1 million. In the first attempt, AguilaTrades opened a long position worth $434 million. However, following a $4,000+ BTC price correction, the position was closed with a loss of $12.48 million. The second attempt involved a long position of $420 million, which also faced a $4,000+ BTC price drop, leading to a closed position loss of $2.94 million. Currently, in the third attempt, AguilaTrades has opened a long position of $424 million. With BTC having already corrected by over $4,000, the trader is facing an unrealized loss of $13.68 million, although the position has not yet been fully closed.