- 0xb8b9 traded ETH, BTC, SOL, and LINK and has made profits for 29 straight crypto trades.
- The trader earned $2.3M from multiple long trades by holding positions for both short and long hours.
- He now faces a $2.2M unrealized loss with 100% long exposure on $86M in positions.
A trader tracked by Lookonchain, wallet 0xb8b9, earned over $2.3 million in net profits from 29 straight winning long trades this past month. The gains came from well-timed entries in BTC, Ethereum, and LINK, among other tokens.
Source: X
Ethereum and Bitcoin Drove the Majority of Returns
Ethereum trades brought in the largest gains. One ETH long held for 286 hours earned $923,347.41, even after paying $8,268.85 in fees. Another ETH trade returned $6,226.89 after just 48 hours, while a shorter 7-hour hold gained $2,822.24. Altogether, ETH trades yielded nearly $1 million in net profit.
The positive developments in the Ethereum market likely supported the rally. The U.S. spot Ethereum ETF logged $19.1 million in inflows over 3 days, while institutional investors poured $1.25 billion into ETH products across 19 days. These ETF inflows went hand in hand with the anticipation building around Ethereum upgrades and broader institutional adoption.
Bitcoin trades were similarly lucrative. A BTC position held for 136 hours produced $824,470.24 after $19,097.87 in fees. A prior 266-hour BTC long earned $405,652.01, showing the trader’s comfort with long-duration positions in volatile conditions.
In addition, the trader made short, sharp gains on LINK. A 3-hour 32-minute trade earned $9,765.13, while a 2-hour 12-minute play brought in $7,017.61. Even a 3-hour LINK trade earlier added $6,505.95. Solana also joined the list of active positions with a size of $24.91 million, entered at $152.79. The trade has since turned heavily negative, showing an unrealized loss of $1.24 million. With the token priced at $145.58 and liquidation set at $101.29, the positions reflect some serious downside risks under the current market volatility and thinning momentum.
Open Positions Now Bleeding Red
Despite the earlier success, 0xb8b9 now faces $2,244,498.60 in unrealized losses, as reported by Hyperdash. Return on equity has fallen to -68.17%. Perp equity has declined to $8,853,807.59, while margin usage stands at 37.19%, signaling a limited remaining buffer.
All trades remain fully 100% long, with a total position value of $86,469,618.28. In the past 24 hours alone, the trader’s PnL curve saw a steep drop from over $400K to below -$700K, eventually closing the session at -$218,434.46.
Source: Hyperdash
Additionally, the withdrawable balance sits at only $206,845.76, about 2.34% of the full margin, reflecting minimal liquidity. With 9.77x leverage in use, volatility could amplify either way.
The trader’s losses may stem from renewed interest rate concerns, with U.S. inflation data dampening risk appetite. Additionally, uncertainty around crypto regulations and delayed ETF approvals likely added pressure. These macro factors, combined with sudden volatility and fading momentum in major tokens like BTC and ETH, may have triggered the sharp drawdown in highly leveraged long positions.
Related: 170 Hyperliquid Traders Top $10M Profits as HYPE Hits New High
What This Signals Traders In The Changing Market
Lookonchain confirmed that a perfect 29-trade win streak is now under pressure amid shifting market conditions. This period of profitability coincided with a strong market upswing supported by bullish sentiment, institutional inflows, and macro tailwinds. Long trades benefited from momentum-driven trends and clear breakout patterns.
However, current trading conditions have changed. Lower volumes, repeated resistance rejections, and price volatility, especially in BTC and ETH—have overturned the bullish setups. These changes imply that portfolios will be vulnerable to abrupt drawdowns when blindly following earlier strategies.
It highlights the need for traders to constantly gauge the market context and adjust exposure accordingly. Long exposure, though aggressive might perform well in trending markets but the situation could overturn during a consolidation or reversal.
