Trader Narrows Losses to $25.94M with $9M in Weekly Gains

A high-profile trader has managed to reduce their losses to $25.94 million after booking significant profits in the past week.

The trader, known as @ai_9684xtpa on social media platforms, had been sitting on a large amount of leveraged long positions, including a $ETH 25x long position worth $73.67 million with $1.725 million in unrealized profit.

However, the trader also has a $BTC 40x long position that is showing a loss of $227,000.

The price action on the ETH 4-hour chart indicates that the market is trading within a range bounded by Bollinger Bands, with the upper resistance at $2,516.61 and lower support at $2,323.79.

The 50-EMA at $2,230.49 and 200-EMA at $1,999.15 continue to influence the market's trajectory, while the RSI remains neutral and the MACD prints a death cross, suggesting that any push towards the upper band may stall and trigger a measured retracement.