Market U-Turn Leaves Crypto Gambler $334M Poorer in 3-Hour Crash

Key Points

1. The trader, known as @qwatio on X, lost $334 million in under three hours due to liquidations as Bitcoin's price surged.

2. The trader initially lost $16.28 million on a short position, then added $10 million more to short 1,273 BTC and 33,743 ETH at high leverage, which also liquidated.

3. Bitcoin's 15% weekly surge past $123,000 caused widespread liquidations, affecting other traders like hedge fund Abraxas Capital, which lost $107 million on short hedges.

4. Some traders, like AguilaTrades, profited from the volatility, turning a $35 million deficit into a $2.3 million profit with a well-timed long position.

5. Market analysts attribute the rally to bullish momentum driven by geopolitical factors, including Trump's announced tariffs, with Ethereum and XRP also seeing significant gains.