TL;DR
- A trader on HyperLiquid turned an unrealized $10 million profit into a $2.5 million loss after a Bitcoin drop.
- AguilaTrades opened a long Bitcoin position near $106,000, but the pullback within the stable range between $100,000 and $110,000 caused the losses.
- Bitcoin’s low volatility pushes speculators to use leverage on bullish bets, but the sideways market makes it difficult to secure gains.
A trader on the decentralized HyperLiquid platform turned an unrealized $10 million profit into a $2.5 million loss in less than 24 hours following a Bitcoin decline. This case echoes another from May, when a person using the alias James Wynn lost a $100 million account.
The trader, known on social media as AguilaTrades, opened a long Bitcoin position around $106,000 and held it through Monday’s peak at $108,800. Shortly after, BTC’s price dropped to about $104,000, causing significant losses.
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
Although Bitcoin’s volatility has remained low in recent months, fluctuating between $100,000 and $110,000, many speculators keep betting on upward moves with leverage. This approach exposes them to large swings within narrow ranges and results in substantial losses when prices fail to break those levels.
A Persistent Trader
This is not the first time AguilaTrades has suffered losses within this price range. Last week, their long position reached a $5.8 million profit before ending in a $12.5 million loss, according to Lookonchain data.
In theory, holding long positions in Bitcoin during this period makes sense since it has held support above $100,000 despite rising tensions in the Middle East, which usually puts downward pressure on risk assets. However, analysis shows that a strategy focused on buying at support and selling at resistance within this range would have been more profitable.
The Need to Adapt to the Market
This case highlights the challenges traders face when trying to profit from a sideways market. AguilaTrades’ poor results underline the importance of adjusting strategies to current market behavior and managing risk carefully when volatility remains subdued.
