All crypto positions liquidated in two days: Bitcoin's rally cost him a loss.
Trader Qwatio, who earned millions of dollars with long trades opened in March before Trump's crypto reserve announcement, is returning the same millions this summer. Qwatio, who liquidated his long positions at the end of June, lost money this time with bearish trades. The Bitcoin rally cost the famous trader more than $20 million in two days.
Bitcoin's rise continues to cause many prominent traders to lose millions of dollars. Following James Wynn, who opened positions targeting Bitcoin's decline and completely wiped out $100 million, trader Qwatio also suffered significant losses, though not as significant.
According to Lookonchain, Qwatio, who opened positions worth $55 million in Bitcoin, $36 million in Ether, and $7.3 million in Fartcoin, betting on the decline of these coins, lost $25.8 million in his 0x916E wallet. The trader lost this money in just two days.
By the end of June, Qwatio had lost $12.5 million after liquidating his positions eight times.
Qwatio earned $6.8 million from long positions opened before Trump's "crypto reserve" announcement in March. The renowned trader also made a $3.5 million profit on #MELANIA coin.
$600 million liquidated
Meanwhile, Bitcoin's rise above $123,000 hit leveraged traders hard. Traders who opened short positions, in particular, had $600 million worth of positions liquidated in the last 24 hours.
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