After achieving an unrealized profit of $10 million, a trader on HyperLiquid known as AguilaTrades recorded a $2.5 million loss.
AguilaTrades(@AguilaTrades) seems a bit greedy and never takes profits.
Last week, he was up $5.8M on a $BTC long but didn’t cash out and ended up losing $12.47M.
This week, he did it again—up $10M yesterday, didn’t cash out, now down over $2.5M.https://t.co/HbffHEbY1f pic.twitter.com/t2g3XvWAB3
— Lookonchain (@lookonchain) June 17, 2025
Shortly before this, the market participant missed out on a $5.8 million “paper” profit from a long position on digital gold, resulting in losses of $12.47 million, according to Lookonchain.
AguilaTrades opened a long position on Bitcoin at $106,000 and held it until Monday’s peak of $108,800. Subsequently, the price suddenly dropped to $104,000.
The volatility of the leading cryptocurrency has remained relatively low over the past few months, with prices fluctuating between $100,000 and $110,000.
“This does not deter derivatives traders, who continue to bet on growth with leverage, regularly facing drawdowns amid the narrow price corridor,” commented CoinDesk.
At first glance, the strategy appears justified, analysts noted. Bitcoin remains above the psychological level of $100,000, despite rising tensions in the Middle East. Such events typically exert pressure on risk assets.
“However, ignoring directional movement and simply buying at support and selling at resistance would have yielded far better results. Since May 9, digital gold has been trading within this range, repeatedly testing the lower and upper boundaries [of the price range],” experts wrote.
At the time of writing, Bitcoin’s price stands at $105,400, according to CoinGecko. Since the beginning of the year, the asset has risen by 12.7%.
Back in late May, the “self-proclaimed king of futures” James Wynn announced his departure from Hyperliquid with $25 million in profits, only to reconsider. Ultimately, he suffered multi-million dollar losses.