A seasoned crypto trader known as AguilaTrades has made headlines for all the wrong reasons. In just two weeks, he lost over $35 million by trading Bitcoin. What’s surprising is that he was often right about market direction, but still walked away with huge losses.
So, what exactly went wrong? And what can other traders learn from his mistakes?
It all began on June 8, when AguilaTrades created a new wallet and moved $39.18 million worth of USDC from Bybit to Hyperliquid, a trading platform used for perpetual BTC contracts. His strategy was bold: he went long on Bitcoin, betting that the price would keep rising.
Initially, things looked good.
On June 9, he opened a large long position on Bitcoin as the price started climbing. His unrealized profits soon reached a peak of $5.76 million. But instead of locking in those gains, he held on, waiting for more.
That wait cost him dearly.
As geopolitical tensions rose due to the Israel-Iran conflict, the price of Bitcoin dropped sharply. Aguila was forced to close his long position, this time with a $12.47 million loss.
But he didn’t stop there.
Just six days later, on June 15, he went long again. Once more, BTC climbed, and his gains hit $10 million. And once again, he didn’t sell. But, when the market turned, his profits vanished, and he walked away with another $2.95 million in losses.
Then came June 20. Another long position. Another rally. Another chance to cash out, this time with $3.2 million in profits. But he didn’t take it. As Bitcoin dropped again, his losses deepened to a painful $17 million.
After three failed long trades, he finally flipped his strategy and went short, betting that Bitcoin would drop. Unfortunately, Bitcoin bounced, and his losses added another $2.33 million.
In just two weeks, AguilaTrades saw its account shrink from $39 million to just $4 million, a loss of over $35 million.
AguilaTrades is a seasoned crypto trader who recently gained attention for losing over $35 million in two weeks by making large, leveraged Bitcoin trades on the Hyperliquid platform, despite often correctly predicting market direction.
Geopolitical tensions, particularly the Israel-Iran conflict, led to sharp drops in Bitcoin’s price. This forced AguilaTrades to close his leveraged long positions at significant losses, turning his unrealized profits into substantial actual losses.
Yes, better strategy, particularly disciplined risk management, could have prevented AguilaTrades’ losses. Taking profits when in the green, setting stop-loss orders, and avoiding excessive leverage would have mitigated the impact of market reversals.
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