$3.24 million loss in 14 hours: trader longs Ethereum at its peak
A trader lost $3,240,000 within 14 hours after opening a long position on Ethereum at a local maximum. When ETH's price started to decline, the user partially closed the position, realizing a loss of $583,500.
Source Hyperdash
Furthermore, the trader still holds a long position worth $37.6 million, with an unrealized loss of $2.66 million. This event highlights the risks associated with cryptocurrency investments, especially when opening large positions at market peaks.
What happens next will depend on Ethereum's price movement, which could impact position closures as well as the trader’s overall losses or gains.
