Crypto Market Crash Flips $33M Profit Into $26M Loss for Top Trader
A prominent crypto trader, known by the on-chain wallet 0xc2a3, experienced significant losses exceeding $26 million after a sharp market correction reversed a $33 million profit, ending a streak of 14 consecutive profitable trades. Despite this setback, the trader still holds $1.4 million in perpetual equity, remaining active in the market. The losses occurred amid a broader cryptocurrency sell-off, with Bitcoin and Ethereum reaching new lows, and $2.10 billion worth of positions liquidated within 24 hours, predominantly from long positions. Meanwhile, Bitcoin spot ETFs faced net outflows of $566.4 million, while Ethereum ETFs saw $219.4 million withdrawn. However, institutional players, like Michael Saylor’s firm Strategy, continued to invest, acquiring 397 BTC for approximately $45.6 million, bringing their total Bitcoin holdings to 641,205 as of November 2, 2025.
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Crypto Trader Faces Sharp Reversal
A once-unbeatable crypto trader has faced a dramatic reversal of fortune after a sharp market correction turned a $33 million profit into losses exceeding $26 million, ending a near-perfect trading record. The trader, identified by the on-chain wallet 0xc2a3, previously maintained a flawless record of 14 profitable trades but has now been forced to close several long positions at a loss.
Current Holdings Despite Setbacks
Despite these setbacks, the trader’s on-chain wallet still holds approximately $1.4 million in perpetual equity, signaling that the individual remains active in the market and may attempt to recover from the recent downturn.
Broader Market Sell-Off Pressures
This individual’s losses occurred amid a broader cryptocurrency market sell-off. Key assets such as Bitcoin dropped below $100,000 for the first time since May, while Ethereum declined to its lowest point since July. Other significant altcoins, including Solana, XRP, and BNB, saw losses of over 5% in a single day.
Additionally, according to liquidation data from CoinGlass, approximately $2.10 billion worth of positions were liquidated in just 24 hours, with $1.68 billion coming from long positions—highlighting the extensive impact on traders during this market downturn.
ETF Activity Reflects Investor Sentiment
Investor caution was also evident in exchange-traded funds (ETFs). On November 4, Bitcoin spot ETFs observed net outflows of $566.4 million, while Ethereum ETFs saw $219.4 million withdrawn. Interestingly, however, Solana spot ETFs saw inflows of $14.9 million, suggesting that investors remain selectively confident despite the overall market weakness.
Institutional Support for Bitcoin Amid Chaos
Amid the market turbulence, institutional players continue to demonstrate support for Bitcoin. Michael Saylor, founder of Strategy, announced that his company had acquired 397 BTC for approximately $45.6 million, averaging $114,771 per Bitcoin.
As of November 2, 2025, the company holds 641,205 Bitcoins, making it the largest corporate holder of the cryptocurrency. Their total stake, purchased for approximately $47.49 billion, achieves an average price of $74,057 per Bitcoin. Strategy's year-to-date Bitcoin yield stands at 26.1% for 2025, showcasing continued confidence and commitment to long-term Bitcoin accumulation.