A merchant of decentralized derivatives Exchange Hyperliquid has converted an unrealized gain of $ 10 million into a loss of $ 2.5 million, apparently trapped by the same trap that stumbled
4% fell from the maximum on Monday.
The merchant, known as Aguilatrades in X, entered a long position of Bitcoin at $ 106,000, and sat at the maximum of Monday of $ 108,800 before the largest cryptocurrency took a fall to operate recently around $ 104,000.
Bitcoin’s volatility has been relatively low for months, with the price that varies between the $ 100,000 support level and the maximum record of around $ 110,000. That has not disturbed derivative merchants, who are continuously betting on the rise with leverage, which are subsequently cut in a narrow range.
It is not the first time that Aguilatrades records a losing exchange at these levels. Last week $ 5.8 million rose in a BTC long before losing $ 12.5 million, according to Lookonchain.
On paper, trade has credentials because BTC has managed to remain over $ 100,000 despite the growing conflict in the Middle East, which is generally a catalyst for disadvantage in risk assets.
However, the remaining agnostic action at this range and simply buy support and resistance to sale would have yielded much larger results. Bitcoin has been operating in this range since May 9 with numerous attempts to break support and resistance on the road.
