Trader Makes $125K ETH Worth Millions, Then Loses Everything Overnight

The latest surge in Ethereum (ETH) has presented traders with numerous opportunities to optimize their portfolios and secure gains. But the steep decline has been equally devastating for those who re-entered the market too late.

ETH Trader's Luck Vanishes

The trader who first built a small $125,000 deposit into tens of millions of dollars via aggressive Ethereum longs has now had his profits erased almost overnight.

According to on-chain data aggregator Lookonchain, the trader accumulated an account worth $29.6 million in four months on Hyperliquid by compounding gains. They once built an enormous 66,749 ETH position worth around $303 million.

Only two days ago, the trader had closed their long positions, reaping $6.86 million in profit while keeping their account equity at $6.99 million, down from a high of $43 million. However, the triumph proved to be fleeting.

Hoping to pursue additional upside, the trader re-entered with another massive Ethereum long position. But as the market turned, $6.22 million of positions were sold, leaving their account value at mere $771,000. Almost four months' worth of compounded profit was wiped out in under 48 hours.

Accumulation Opportunity?

Although the liquidation is a warning story, experts contend that the pullback offers an opportunity for focused dip buyers.

MN Trading founder Michaël van de Poppe views the $4,100–$4,200 area as an "ideal accumulation zone." He is expecting at least a 10% rebound from those levels and anticipates Ethereum volatility will drop shortly, making way for a new accumulation phase.

These remarks follow ETH's strong reversal from last week's $4,750 high—a level not reached in months—driving the token back to just above $4,200 at the time of writing.

Van de Poppe doubled down on his approach with a reminder to "always buy the dip."

In the meantime, market intelligence platform Kiyotaka pointed out that Ethereum is now dipping into a high concentration of resting bids, with purchases piled down to $3,900. The order book heatmap indicates high accumulation zones, which implies that strong demand from buyers could stem ETH's decline.

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