The crypto trading address 0x0558 has fully liquidated its Ethereum long positions amid a sharp market downturn. This action follows significant losses in trading profits, which fell from over $18 million to approximately $494,700 within a five-day period.
Despite the market fluctuations, the trader retains 640 Bitcoin long positions valued at $72.3 million. The move underscores both the high volatility inherent in cryptocurrency markets and the critical importance of robust risk management strategies.
The sustained Bitcoin position represents a substantial stake, reflecting ongoing conviction in BTC’s long-term trajectory even during uncertain market conditions.