The trader went long on BTC three times and lost a total of 29.1 million dollars.

Recently, a well-known trader has failed in three consecutive go long operations in the Bitcoin market, resulting in a total loss of up to 29.1 million dollars, which has attracted widespread attention in the industry.

According to on-chain data analysis, this trader's first attempt opened a go long position of $434 million. However, the Bitcoin price subsequently experienced a pullback of over $4,000, forcing him to close the position to stop losses, ultimately resulting in a loss of $12.48 million.

The trader, unwilling to accept failure, immediately launched a second attempt, opening a go long position of $420 million once again. Unfortunately, history seemed to repeat itself as Bitcoin experienced another drop of over $4,000, forcing the trader to close the position again, resulting in a loss of $2.94 million.

Despite having suffered two major blows, this trader continues to stick to his market judgment and has initiated a third go long operation. This time, he opened a position of $424 million. However, the market trend is still disappointing, with the Bitcoin price dropping over $4,000 again. As of now, this trader has not fully closed his position but is already facing a floating loss of $13.68 million.

This series of trading mistakes not only caused significant financial losses for the traders themselves but also provided valuable lessons for the entire cryptocurrency trading community. It again highlights the high-risk nature of the cryptocurrency market and the importance of maintaining caution and risk management when conducting large trades.

At the same time, this case has also sparked discussions within the industry regarding market manipulation and insider trading. Some analysts question whether such large-scale and frequent trading activities could have inappropriate effects on the market.

In any case, the experience of this trader will undoubtedly become an important case in the history of cryptocurrency trading, worthy of reflection and learning for all market participants.