Crypto Trader Profits $17 Million Betting on Bitcoin and Ethereum Rebound

A seasoned crypto trader, identified as "0xc2a," successfully profited around $17 million by strategically opening long positions on Bitcoin and Ethereum just before a market rebound in October, despite significant market turmoil that wiped out over $20 billion in leveraged positions on October 10th. This chaos was triggered by President Donald Trump's announcement of a 100% tariff on Chinese imports, causing a global sell-off. Data from Arkham Intelligence and Lookonchain showed that 0xc2a accumulated positions during the downturn and actively rebalanced, maintaining a 100% win rate since opening their Hyperliquid account two weeks prior. At the time of reporting, the trader held substantial long positions totaling nearly $300 million in BTC and ETH, signaling strong conviction in the market's recovery, which offers a glimmer of cautious optimism amid a challenging 'Uptober' for crypto.

(Source：BeInCrypto)