Crypto trader AguilaTrades has stunned markets once again. After closing a massive Ethereum ($ETH) short with an $8 million loss, the trader flipped long on ETH. With a high-stakes move that has drawn sharp attention across trading circles.
The reversal came after days of heavy losses. AguilaTrades had once turned over $3 million in profit from volatile plays. But his overall portfolio now sits at a net loss exceeding $27 million, according to blockchain tracking service Lookonchain.
Closed Shorts, Then Pivoted
On July 20, Lookonchain reported that AguilaTrades closed two major short positions: 6,832 ETH worth $25.15 million and 1,134 BTC worth $134 million. These moves alone resulted in a combined $1.1 million loss. But the real heat came from his remaining massive ETH short, totaling 50,000 ETH (around $186 million). That position was still open and bleeding, with unrealized losses over $7 million as of that report.
Just 24 hours later, AguilaTrades closed the rest of that position, locking in a loss of over $8 million. Then came the twist: he immediately went long on ETH, betting the token’s price would climb.
From Profit King to Risk Machine
AguilaTrades has been one of the more notorious figures on Hyperliquid, the high-leverage crypto derivatives platform. Known for massive positions and wild swings, his trading record reads like a rollercoaster:
Once $35M in losses
Climbed to $3M in profits
Now sits at $27M+ in net losses.
The scale of these trades and the speed of strategy shifts have made Aguila a legend, or a cautionary tale, among on-chain traders.
What Triggered the Long Reversal?
Ethereum’s recent resilience may have triggered the change. After a shaky period, ETH prices bounced back slightly. Aguila’s pivot could reflect a broader shift in sentiment or an attempt to recover losses by riding momentum.
Still, analysts warn that the timing seems risky. ETH remains under pressure, and the broader market has shown high volatility. A long play at this stage could either soften Aguila’s losses or deepen the spiral.
Transparency Brings Spotlight
Thanks to public dashboards on platforms like Hyperliquid and Hyperdash, traders like AguilaTrades no longer operate in the shadows. Every entry, exit, win, and loss is publicly visible, drawing both admiration and scrutiny. This level of transparency has helped build Aguila’s cult like following. While turning his trades into live spectacles.
However, it also raises questions about the line between elite trading and reckless gambling. As market volatility persists, some wonder whether high-leverage strategies can survive the current conditions. Currently, AguilaTrades stands as a symbol of extreme risk and potential reward, one misstep away from collapse, one bold move from redemption.
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