Long positions have suffered setbacks since October: Summary of major losses and exits by well-known whale traders

【BlockBeats】Since mid-October, the volatility in the crypto market seems to have spared no one. A recent monitoring report shows that over the past two months, many traders and whales who once had prominent reputations in the industry have faced setbacks during the market plunge—some were forced to wipe out their positions and exit, while others suffered massive unrealized losses.

Let’s first look at those who have already been eliminated. There was a trader known for “steadfastly going long on Ethereum after the October crash.” On November 7th, their long position on Ethereum lost a total of $2.28 million in one go, with a cumulative loss of $9.32 million over two months. Even more astonishing is a whale who previously faced a $97 million liquidation; on November 20th, they lost another $560,000 on a ZEC short, bringing their total loss in a month to $6.25 million, ultimately ending with a wipeout. This trader is also quite well-known on crypto gambling platforms.

The biggest long position in BTC during the November bottom also couldn’t escape misfortune—on November 18th, they made a $910,000 profit on an Ethereum long, but on the same day, they suffered a large loss of $7.3 million. They ended up losing $5.77 million in the last month and exited quietly. A senior advisor at WLFI also took a hit—on October 16th, an $800,000 loss on a BTC long, and over two months, a small loss of $3.24 million. A whale who once claimed a “100% win rate” fared even worse—although they made a small profit of $12,000 on a ZEC long on November 11th, they repeatedly misjudged the market over the past two months, losing a total of $31.8 million.

But the real disaster is still ongoing. The situations of traders still in the game are even more heartbreaking. A well-known trader, despite currently holding an Ethereum long with an unrealized profit of $150,000, has a historical record of 70 consecutive losses totaling $36 million. Another trader who specializes in altcoins has a combined unrealized loss of $590,000 across ten altcoins; in just November alone, they lost $7 million by chasing rallies across 22 different tokens.

In the BTC space, OG-level large holders with long positions in the three main cryptocurrencies currently have an unrealized loss of $47 million. A well-known fund co-founder’s related address on ENA has performed even worse, with an unrealized loss exceeding 1014%, and recently was liquidated for $1.71 million. Over two months, they accumulated a total loss of $6.18 million. A former “calm order king” has an unrealized loss of $60,000 on BTC and SOL shorts—ironic, considering they once created a $25 million unrealized profit in 60 days, which has now vanished into thin air.

Finally, there is the trader who “firmly goes long on HYPE.” Currently, their HYPE long position has an unrealized loss of $19.8 million, with a total loss of $22.25 million over two months. There are rumors that they might have some connection to HYPE token listings, but they have long since become a cautionary tale.

The cruelest aspect of this market cycle is that, regardless of how strong your track record or how prominent your identity once was, everyone is equal in the face of the market. The series of wipeouts and massive losses since October seem to be warning participants: under leverage, humility is paramount.