A trader at a diversified derivatives exchange trader turned $10 million in profits into $2.5 million in loss, appears to be trapped by a man using the same trap. A man using the alias James Wynn tripped over a man A $100 million account was blown up in Mayafter Bitcoin
It was down 4% from Monday’s high.
Trader, called Aguilatrades On X, it entered a Bitcoin long position at $106,000 and sat down at a high price of $108,800, while the largest cryptocurrency has recently been traded a lot, and recently around $104,000.
Bitcoin has relatively low volatility, with prices between $100,000 support levels for several months and has recorded around $110,000. This did not keep derivatives traders betting continuously with leverage and then chopped up.
This is not the first time Aguilatrades has recorded losses at these levels. Last week, they added $5.8 million to BTC before losing $12.5 million. Lookonchain.
On the surface, the trade has a certificate because BTC managed to keep above $100,000 despite escalating conflict in the Middle East, which is usually a catalyst for the decline in risk assets.
However, within this range, price action remains agnostic, and purchase support and sales resistance alone will produce greater results. Bitcoin has been trading within this range since May 9, and there have been many attempts to break support and resistance in the process.
