One Whale Lost Nearly $70M in ETH – Another Got Wrecked Long and Short
Bitcoin tanked from $87,000 to under $81,000 in just a few days and dragged almost all altcoins with it. As typically happens, those with over-leveraged positions got the worst of it, as the excessive open interest was attributed to the quick price moves.
Lookonchain highlighted several large positions caught in the volatility, including an Ethereum whale that lost almost $70 million and AguilaTrades, whose trading return ended with losses on both sides.
$70M ETH Position Wrecked
Let’s begin with the biggest whale caught in the net of the market crash. An anonymous trader with a massive long position of 28,716 ETH was wiped out during the crash, with the greenback equivalent of $69.69 million. What’s even more impressive is that the whale has not abandoned the bullish bet.
According to the on-chain resource, the trader subsequently opened another ETH long and now holds 78,955 ETH (worth over $195 million) in a fresh leveraged position. The new liquidation levels sit at just under $2,300. It’s worth noting that the altcoin tanked from over $2,700 to $2,400 before it rebounded by around a grand and now sits at around $2,500.
Machi (Machi Big Brother) has lost $8.44 million over the past week, pushing his account value to under $1 million. As of press time, he still holds a 9,950 ETH long position worth over $24.6 million, with the liquidation price sitting at $2,431.
AguilaTrades’ Unsuccessful Return
Lookonchain further updated on the return of AguilaTrades. After more than six months on the sidelines, the trader opened a BTC long. However, he was caught by the market crash as well and closed the position at a $331,000 loss. He changed his mind and opened a 40x short on 200 BTC worth roughly $16.35 million.
The market, though, flipped the script. Shortly after he turned bearish, the short position was wrecked, leaving him caught on the wrong side of both market moves. The latest update from the analytics resource indicated that his total losses for the day stand at $545,000.
AguilaTrades(@AguilaTrades) returned to trading after more than 6 months of inactivity, only to get liquidated and lose $545K in just one day.
Poor guy!
https://t.co/2FywxlntZA https://t.co/j10B3v7brK— Lookonchain (@lookonchain) October 9, 2026