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

A seasoned crypto trader has defied October’s market turmoil, pocketing roughly $17 million in profit from long positions on Bitcoin and Ethereum.

Data from Arkham Intelligence shows that the trader, identified as “0xc2a,” opened long positions shortly before last week’s market rebound. Bitcoin and Ethereum subsequently gained 4% and 2%, respectively.

The Crypto Whale Holds Nearly $300 Million in Long Position

The trader’s precision came after one of the crypto market’s most volatile stretches, when more than $20 billion in leveraged positions were wiped out on October 10.

The market chaos began after President Donald Trump announced a 100% tariff on Chinese imports. The policy move sparked a global sell-off across equities and digital assets.

As investors rushed to de-risk, Bitcoin briefly fell to a three-month low of under $105,00 before recovering. During the downturn, 0xc2a quietly accumulated positions, betting on a rebound that quickly materialized.

Blockchain data reviewed by Lookonchain showed that he actively rebalanced his portfolio as prices fluctuated, aligning each move with shifting market sentiment.

Since inception, his account has maintained a 100% win rate, with no recorded losses. Notably, this is a record that has drawn significant attention from analysts and traders alike on the social media platform X.

At the time of writing, the trader holds 1,483 BTC (worth approximately $165.5 million) and 33,270 ETH (around $131.3 million) in active long positions. This signals a strong conviction in a market still struggling to find direction.

Meanwhile, the trader’s success underscores how whale behavior can influence broader sentiment. Large holders, capable of moving markets with a single transaction, often act as a barometer for institutional positioning.

Typically, smaller traders closely track their actions, seeking cues on potential momentum reversals or trend confirmations.

However, this October’s market has challenged the traditional “Uptober” narrative.

Historically, the month carries bullish expectations. However, the combination of geopolitical uncertainty, liquidation spikes, and fading risk appetite has tested investor conviction.

Still, the success of traders like 0xc2a has revived cautious optimism. For many, his $17 million profit is not just a display of skill but a reminder that even in volatile markets, disciplined timing and strategic positioning can still yield outsized rewards.

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