A seasoned crypto merchant known as Aguilatrades made the headlines for all bad reasons. In just two weeks, he lost more than $ 35 million by exchanging Bitcoin. What is surprising is that he was often right about the direction of the market, but that he has always left with huge losses.
So what’s wrong exactly? And what can other traders learn from his mistakes?
From $ 39 million to $ 4 million – the shocking slide
It all started on June 8, when Aguilatrades created a new portfolio and moved $ 39.18 million from USDC from bybit to hyperliquid, a trading platform used for perpetual BTC contracts. His strategy was daring: he went to Bitcoin for a long time, betting that the price would continue to increase.
At the start, things looked good.
On June 9, he opened a long position long on Bitcoin while the price was starting to climb. Its unpaid profits quickly reached a peak of $ 5.76 million. But instead of locking these earnings, he maintained, while waiting for more.
This wait cost him a lot.
Ignore signs – and losses accumulate
While geopolitical tensions increased due to the Israeli-Iranian conflict, the price of bitcoin has dropped sharply. Aguila was forced to close her long position, this time with a loss of $ 12.47 million.
But he didn’t stop there.
Barely six days later, on June 15, he left for a long time. Once again, BTC has climbed and its earnings reached $ 10 million. And again, he did not sell. But when the market has shot, its profits have disappeared and it left with an additional $ 2.95 million of losses.
Then came on June 20. Another long position. Another rally. Another chance of withdrawing this time with $ 3.2 million in profits. But he didn’t take it. While Bitcoin fell again, his losses deepened at $ 17 million painful dollars.
Change of strategy, but too late
After three long exchanges, he finally overthrew his strategy and failed, betting that Bitcoin would fall. Unfortunately, Bitcoin has bounced and its losses added an additional $ 2.33 million.
In just two weeks, Aguilatrades saw his account go from $ 39 million to only $ 4 million, a loss of more than $ 35 million.
