Bitget Traders Take Bets on Ethereum Worth Over $100 Million

Two traders have taken massive positions in Ethereum (ETH) on Bitget, a cryptocurrency exchange. According to Odaily and Lookonchain monitoring data, one trader opened a 20x leveraged short position of 30,000 ETH, worth $53.49 million. This is the first major move from this trader, who previously closed three long positions in Bitcoin (BTC), Ethereum (ETH), and Solana with profits totaling $444,000.

The other trader took a more bullish stance, opening a 10x leveraged long position of 30,000 ETH, also worth $53.49 million. This trader has already closed eight trades, six of which were profitable, resulting in a win rate of 75% and total profits of $3.1 million.

The significant size of these positions is likely to grab the attention of market participants, especially given the substantial amounts involved. However, it's essential to remember that large positions can be both highly profitable and extremely risky.