Prominent Bitcoin trader known as AguilaTrades incurred a significant loss of $16.61 million stemming from the liquidation of a 20x leveraged long position on Bitcoin.
Shortly after the liquidation event, the whale initiated a substantial shift in market stance. AguilaTrades opened a new $81.84 million Bitcoin position, this time employing 20x leverage on the short side.
This latest loss contributes to a reported cumulative deficit exceeding $32 million across AguilaTrades’ last three trading ventures.
The sequence of events underscores the considerable risks inherent in high-leverage cryptocurrency trading strategies, where positions can be liquidated rapidly during volatile market conditions.
Executing trades of this magnitude inherently carries the potential to influence Bitcoin’s short-term price movements and overall market liquidity due to the significant capital involved.