An experienced cryptocurrency trader has defied the October market turmoil and pocketed approximately $17 million in profits from long positions in Bitcoi.north and Ethereum.
Data from Arkham Intelligence shows that the trader, identified as “0xc2a”, opened long positions shortly before last week’s market rally. Subsequently, Bitcoin and Ethereum gained 4% and 2%, respectively.
The crypto whale has almost $300 million in a long position
The trader’s precision came after one of the cryptocurrency market’s most volatile stretches, when more than $20 billion in leveraged positions were wiped out on October 10.
The chaos in the market began after President Donald Trump announced a 100% tariff on Chinese imports. The policy move sparked a global sell-off in stocks and digital assets.
As investors rushed to reduce risk, Bitcoin briefly fell to a three-month low of less than $105,000 before recovering. During the crisis, 0xc2a quietly built up positions, betting on a rebound that quickly materialized.
Blockchain data reviewed by Lookonchain showed that it actively rebalanced its portfolio as prices fluctuated, aligning each move with changing market sentiment.
Since inception, his account has maintained a 100% win rate, with no losses recorded. Notably, this is a record that has caught the attention of analysts and traders alike on the X social media platform.
At the time of writing, the trader has 1,483 BTC (worth about $165.5 million) and 33,270 ETH (about $131.3 million) in active long positions. This indicates strong conviction in a market that is still struggling to find direction.
Meanwhile, the trader’s success underlines how whale behavior can influence broader sentiment. Large holders, capable of moving markets with a single transaction, often act as a barometer of institutional positioning.
Typically, smaller traders follow their stocks closely, looking for clues about possible 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, spikes in liquidation and declining risk appetite has tested investors’ conviction.
Still, the success of operators like 0xc2a has revived cautious optimism. For many, his $17 million profit is not just a demonstration of skill, but a reminder that even in volatile markets, disciplined timing and strategic positioning can reap enormous rewards.
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