A veteran crypto trader bucked October’s market turmoil, reaping nearly $17 million in profits from long positions in Bitcoin and Ethereum.
The trader, identified as 0xc2a, opened a long position just before last week’s market rally, according to data from Arkham Intelligence. Since then, Bitcoin and Ethereum have risen 4% and 2%, respectively.
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Cryptocurrency whale holds long positions worth nearly $300 million
The trader’s accuracy comes after one of the most volatile phases in the crypto market, when more than $20 billion in leveraged positions were wiped out on October 10th.
The market turmoil began after President Donald Trump announced a 100% tariff on imports from China. This policy move triggered a global decline in stocks and digital assets overall.
Bitcoin briefly fell to a three-month low of less than $105,00, before recovering as investors rushed to avoid risk. During the economic downturn, 0xc2a quietly built up positions, betting on a rebound that would soon materialize.
Blockchain data verified by Lookonchain shows that he actively rebalanced his portfolio in response to price fluctuations, adjusting each move to changes in market sentiment.
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Since its inception, his account has maintained a 100% win rate and no losses have been recorded. In particular, this is a record that received a lot of attention from both analysts and traders on social media platform X.
At the time of writing, traders hold 1,483 BTC (worth approximately $165.5 million) and 33,270 ETH (worth approximately $131.3 million) in active long positions. This shows strong confidence in a market that is still struggling to find direction.
Meanwhile, the trader’s success highlights how whale behavior can influence broader sentiment. Large holders who can move the market with a single trade often serve as a barometer of an institution’s positioning.
Small traders typically track their actions closely, looking for clues about potential momentum reversals or trend confirmations.
But this October’s market cast doubt on the traditional “Uptober” narrative.
Historically, this month brings bullish expectations. But a combination of geopolitical uncertainty, a surge in liquidations, and declining risk appetite are testing investor confidence.
Still, the success of traders like 0xc2a has revived cautious optimism. For many, his $17 million profit is more than just a show of skill, it’s a reminder that even in volatile markets, disciplined timing and strategic positioning can still yield huge rewards.
