Famous Trader Goes Long After Suffering 2.1 Million Dollar Loss

As fluctuations in the cryptocurrency market continue unabated, a famous trader who lost 2.1 million dollars in a short position on Ethereum has returned to the market by adopting a new strategy, opening high-volume long positions in Bitcoin and Ethereum. This trader, known for his unusual leveraged trades, pension-usdt.eth, has managed to attract investors' attention with his latest strategy.

Information provided by the on-chain data platform Lookonchain reveals that the trader completely shifted direction after experiencing losses in his Ethereum short position and moved to a long position with bullish expectations. pension-usdt.eth opened 1,000 Bitcoin and 10,000 Ethereum long positions using 3x leverage with a total position size of approximately 117 million dollars. In the current market situation, it appears that the trader has an unrealized profit of 1.4 million dollars from these trades.

On the other hand, according to previously reported data from the Lookonchain platform, pension-usdt.eth had incurred 2.1 million dollars in losses by closing his short position of 25,000 Ethereum with a stop-loss as the market stabilized. This incident also ended the trader's winning streak over the last 12 trades. However, despite this loss, it is stated that pension-usdt.eth has a total profit of 23.9 million dollars on the decentralized derivatives platform Hyperliquid.

The recent recovery in Bitcoin and Ethereum prices indicates that large investors are once again shifting towards long trades. The change in direction of high-volume traders suggests that short-term volatility in the market may increase. The current price movements are emerging as a critical point that investors should monitor closely.