Whale's three attempts to go long on BTC failed, resulting in a total loss of 29.1 million USD.

Recently, a famous trader attempted to go long on Bitcoin three times in a row but suffered significant losses. According to on-chain data, this trader incurred a total loss of up to 29.1 million dollars in a short period.

Specifically, the trader's first move was to open a long position of $434 million in Bitcoin. However, the Bitcoin price subsequently experienced a pullback of over $4,000, forcing the trader to close the position to stop the loss, ultimately resulting in a loss of $12.48 million.

Unscathed traders immediately launched a second attempt, opening a go long position worth $420 million once again. Unfortunately, the market trend remained disappointing, with Bitcoin retracing over $4,000 once more. This time, traders lost $2.94 million after closing their positions.

Despite having suffered two consecutive losses, this trader remains steadfast in his market judgment. In his third operation, he once again opened a long position of up to $424 million. However, the price of Bitcoin has fallen again, having retraced over $4,000. As of now, this trader has not fully closed his position, but he has already incurred an unrealized loss of $13.68 million.

This series of trading activities has attracted widespread attention from the market. Analysts have pointed out that such large-scale and frequent operations may have a certain impact on the market. At the same time, this also highlights the high volatility of the cryptocurrency market once again, reminding investors to carefully assess risks when trading.