A cryptocurrency trader, identified by the address 0x94d…33814, has experienced a significant loss of $20.5 million over the past week due to volatile market conditions. Previously recognized as the top short position holder on Hyperliquid for Bitcoin, the trader recently closed short positions in Bitcoin, Solana, and Ethereum, securing a profit of $3.12 million—marking their first gain in a week. However, the trader quickly shifted strategy to long positions, now holding $294 million in long positions across three tokens. Currently, these positions are showing an unrealized loss of $1.058 million, with Ethereum alone accounting for a $1.56 million loss. Despite this, the trader's Solana long and DASH short positions remain profitable. The recent gains from short positions are at risk of being offset by the losses from the new long positions.
Crypto Trader Faces $20.5 Million Loss Amid Volatile Market Moves
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