A prominent Bitcoin early adopter has accumulated significant losses on a leveraged long position despite demonstrating precise market timing on Ethereum. The trader, tracked by on-chain analysts, is currently down more than $11 million on a 5x leveraged BTC long entered at $76,117 with an unrealized position size of $85.3 million, according to LookOnChain.
The trader's track record on Ethereum proved far more successful. Between May 6 and May 10, the wallet transferred 577,717 ETH worth approximately $1.35 billion to Binance at an average price of $2,337—capturing the local top within days. Ethereum has since declined to approximately $1,850, validating the trader's exit timing and representing a potential gain of roughly $223 million had the position been liquidated at current prices.
The trader maintains additional exposure through a 3x leveraged short position on ZEC worth $35.5 million, entered at $626.50 with liquidation risk at $852.70. The BTC long position faces liquidation if the price falls below $55,537, leaving the trader vulnerable to further downside despite their demonstrated ability to identify inflection points in altcoin markets.