In a shocking turn of events amidst Bitcoin’s recent fluctuations triggered by increased tensions in the Middle East, experienced crypto trader AguilaTrades faced a staggering loss of over $35 million within a span of just two weeks. This news comes from an extensive examination shared on X by on-chain analytics account Lookonchain on June 23, revealing how AguilaTrades’ bold leveraged bets fell apart dramatically as the conflict between Israel and Iran intensified, sending shockwaves through global markets and propelling cryptocurrency prices into turbulence.
### The Breakdown of a $35 Million Investment
The in-depth investigation by Lookonchain followed the swift decline of a wallet associated with AguilaTrades. Despite earlier celebrating a top rank on Bybit and boasting a $50 million gain from U.S. election forecasts, things took a turn for the worse starting June 8. AguilaTrades transferred $39.18 million in USDC to the perpetual futures exchange Hyperliquid, aiming to amplify his Bitcoin investments. His initial leap on June 9 saw a paper profit of about $5.6 million, but his refusal to cash in led to a significant loss as Bitcoin’s value plummeted following a preemptive strike by Israel on Iran. This resulted in a $12.47 million loss for AguilaTrades.
Undeterred, AguilaTrades placed new long bets on June 15 and June 20, enjoying substantial gains. However, his decision to not secure his profits led to further downfall over the weekend, exacerbated by U.S. military strikes on Iran and Iran’s purported decision to close the Straits of Hormuz. Bitcoin’s subsequent crash below $100,000 liquidated AguilaTrades’ positions, culminating in losses of $2.95 million and $17 million, with CoinGlass data revealing a total of over $700 million in leveraged positions liquidated on that Saturday.
In a final attempt, AguilaTrades went short, only for Bitcoin to rebound, adding a $2.33 million loss to his woes.
### A Harsh Reminder
Lookonchain’s analysis conveyed a stern warning: “Don’t be greedy—take profits. Don’t FOMO into positions during a rally. Avoid using high leverage.”
At the time of reporting, Bitcoin’s price hovered around $101,429, marking a slight decrease over the past days but still showing resilience amidst a broader market downturn.
“Take note: High stakes and high tension lead to a $35M loss for a seasoned crypto trader. #Bitcoin #CryptoTrading #MarketVolatility”
