Crypto Trader Profits $17 Million Betting on Bitcoin and Ethereum Rebound
A seasoned crypto dealer has defied October’s market turmoil, pocketing roughly $17 million in revenue from lengthy positions on Bitcoin and Ethereum.
Data from Arkham Intelligence exhibits that the dealer, recognized as “0xc2a,” opened lengthy positions shortly earlier than final week’s market rebound. Bitcoin and Ethereum subsequently gained 4% and 2%, respectively.
The Crypto Whale Holds Nearly $300 Million in Long Position
The dealer’s precision got here after one of many crypto market’s most unstable stretches, when more than $20 billion in leveraged positions were wiped out on October 10.
The market chaos started after President Donald Trump announced a 100% tariff on Chinese imports. The coverage transfer sparked a worldwide sell-off throughout equities and digital property.
As buyers rushed to de-risk, Bitcoin briefly fell to a three-month low of underneath $105,00 earlier than recovering. During the downturn, 0xc2a quietly gathered positions, betting on a rebound that rapidly materialized.
Blockchain information reviewed by Lookonchain showed that he actively rebalanced his portfolio as costs fluctuated, aligning every transfer with shifting market sentiment.
Since inception, his account has maintained a 100% win price, with no recorded losses. Notably, it is a report that has drawn important consideration from analysts and merchants alike on the social media platform X.
At the time of writing, the dealer holds 1,483 BTC (price roughly $165.5 million) and 33,270 ETH (round $131.3 million) in lively lengthy positions. This alerts a robust conviction in a market nonetheless struggling to search out course.
Meanwhile, the dealer’s success underscores how whale behavior can influence broader sentiment. Large holders, able to shifting markets with a single transaction, typically act as a barometer for institutional positioning.
Typically, smaller merchants carefully monitor their actions, looking for cues on potential momentum reversals or development confirmations.
However, this October’s market has challenged the traditional “Uptober” narrative.
Historically, the month carries bullish expectations. However, the mixture of geopolitical uncertainty, liquidation spikes, and fading danger urge for food has examined investor conviction.
Still, the success of merchants like 0xc2a has revived cautious optimism. For many, his $17 million revenue isn’t just a show of ability however a reminder that even in unstable markets, disciplined timing and strategic positioning can nonetheless yield outsized rewards.
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