Crypto Trader Turns Bullish on Ethereum After $3.3M BTC Loss, Opens $55M ETH Position

Trader “0x9137,” who previously recorded a $3M loss on a Bitcoin long trade, has re-entered the market after a 10-day break.

Upon returning, the trader attempted a Bitcoin short position but faced another setback, losing around $360K. Following this second loss, he quickly shifted strategy and entered Ethereum.

He then opened a 5x-leveraged long position in Ethereum totaling 31,956 ETH, valued at approximately $54.98M.

The activity came as broader market prices moved higher, with Bitcoin rising 2% over 24 hours to $65,652, while Ethereum gained 2.7% and climbed back above $1,700.

Source: Lookonchain