According to @lookonchain, the recent market downturn caused trader 0x0558 to experience partial liquidation of his BTC and ETH long positions. He has now fully closed his ETH longs and holds 640 BTC ($72.3M) in remaining long positions. Notably, his unrealized profit has plummeted from over $18M just five days ago to only $494.7K, indicating that almost all of his gains have been wiped out by the volatility. This event highlights the significant risk for leveraged long positions in current crypto market conditions and signals increased volatility for both BTC and ETH trading pairs (source: @lookonchain).

According to @lookonchain, trader 0x0558 experienced significant liquidations on his BTC and ETH long positions due to the recent market drop. He fully closed his ETH longs and currently holds 640 BTC longs worth $72.3 million. Notably, his total profit has plummeted from over $18 million just five days ago to only $494,700, erasing nearly all gains. This highlights increased volatility and liquidation risk for leveraged traders in both BTC and ETH, signaling caution for market participants (source: @lookonchain).