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The weekend calm was shattered—ETH plunged directly to $2,900.
Another trader’s long position got liquidated. That recent spike wiped out his position of 7,250 ETH, losing $738,000. You’d think he’d take a breather, right?
But instead, he doubled down.
He opened a new long position of 2,100 ETH, worth $6.18 million. His account had just managed to recover to $3 million, but now there’s only $227,000 left.
With moves like this, is he really refusing to believe in bad luck, or is there something we’re not seeing? With the market this volatile, leveraged traders really need to keep their composure.