A cryptocurrency trader named AguilaTrades suffered a loss of over 15.4 million USD in just ten days despite being one of the most successful traders on Bybit.
AguillaTrades, who previously made 77.36 million USD on Bybit, faced difficulties after switching to Hyperliquid.
Data shows that this trader made mistakes in risk management, particularly by not taking profits at the right time: once gaining 5.8 million USD from a 20x leveraged Bitcoin position but later losing 12.47 million USD; another time gaining 10 million USD but continuing to hold the position and losing an additional 2.5 million USD.
Bitcoin price analysis
On June 17, Bitcoin dropped nearly 4%, falling below the crucial 104,000 USD mark, causing the cryptocurrency market to lose 160 billion USD due to escalating US-Iran tensions. The failure to surpass the resistance level of 105,000 USD triggered a wave of profit-taking.
Nevertheless, institutional cash flow remains strong, with over 1.46 billion USD flowing into Bitcoin ETFs in the past 5 days.
Investors are currently awaiting the Fed's decision to maintain interest rates and are monitoring Powell's statements for clues about potential rate cuts in the future.
