thecryptobasic.com
A once-unbeatable crypto trader has seen his fortune reversed after a sharp market correction turned a $33 million profit into losses exceeding $26 million, ending a near-perfect trading streak.
The well-known crypto trader, identified by the on-chain wallet 0xc2a3, has suffered a major setback following the sharp decline in digital asset prices.
According to blockchain analytics platform Lookonchain, the trader, who previously maintained a perfect record of 14 profitable trades, has now closed several long positions at a loss.
Despite the setback, the wallet still holds approximately $1.4 million in perpetual equity, indicating the trader remains active in the market.
Broader Market Sell-Off Pressures Traders
These losses came amid a broader sell-off across the cryptocurrency market. Bitcoin dropped below $100,000 for the first time since May, while Ethereum fell to its lowest level since July. Similarly, other major altcoins, including Solana, XRP, and BNB, also declined by more than 5% within a single day.
Moreover, according to liquidation data from CoinGlass, roughly $2.10 billion worth of positions were wiped out in 24 hours. Of that total, $1.68 billion came from long positions, highlighting how many traders were caught on the wrong side of the market.
ETF Flows Signal Investor Caution
Furthermore, market unease extended into exchange-traded funds. On November 4, Bitcoin spot ETFs recorded net outflows of $566.4 million, while Ethereum ETFs saw $219.4 million withdrawn.
Interestingly, Solana spot ETFs registered $14.9 million in inflows, suggesting selective investor confidence despite broader weakness.
Institutional Players Double Down on Bitcoin
Amid the market chaos, Michael Saylor, founder of Strategy, announced a new addition to his company’s Bitcoin reserves. Specifically, the firm acquired 397 BTC for approximately $45.6 million, averaging $114,771 per Bitcoin. According to Strategy, its year-to-date Bitcoin yield stands at 26.1% for 2025.
As of November 2, 2025, Strategy holds 641,205 Bitcoins, making it the world’s largest corporate holder of the cryptocurrency. The company acquired this stake for around $47.49 billion, paying an average of $74,057 per coin.