Bitcoin Trader AguilaTrades Faces $1.86 Million Loss on 20x Short Amid Market Rebound

COINOTAG News reports that trader AguilaTrades is facing significant unrealized losses on his 20x Bitcoin short position, currently amounting to approximately $1.86 million, as monitored by HyperInsight. The trader’s Hyperliquid position holds a substantial notional value of $101.5 million, with an entry price set at $99,616.6 and a liquidation threshold at $104,730. Bitcoin’s recent price recovery to near $101,500 has intensified pressure on this leveraged short.

Notably, AguilaTrades has encountered setbacks with three unsuccessful 20x long Bitcoin trades, incurring combined losses exceeding $32 million. The current position represents a strategic reversal, shifting to a short stance earlier today. This development underscores the heightened volatility and risk inherent in high-leverage cryptocurrency trading, emphasizing the importance of robust risk management strategies in navigating the Bitcoin market.