Trader Exits Major Nasdaq 100 Position at $21.1M Scale, Crystalizes Losses Following Price Decline

A significant trader has liquidated a heavily leveraged exposure to the Nasdaq 100 index, according to reporting from BlockBeats. The trader’s position, which commanded a substantial scale of $21.1 million with an average entry price of $25,443.47, was unwound at $25,291 during the previous trading session at 14:00 UTC+8. This decision to exit proved strategically sound, as the subsequent price movement would have inflicted considerably greater damage to the account had the position remained open. The trader’s timing was critical—had they stayed in the trade, a further 1.75% decline in the index would have resulted in total losses exceeding $700,000 rather than the $300,000 loss ultimately realized.

Scaling Down Exposure Across Multiple Contracts

Beyond the Nasdaq move, the trader simultaneously closed a substantial copper futures contract position that operated at the same leveraged scale. This particular trade demonstrated more favorable outcomes, with the approximately $18 million copper position entered at an average price of $5.94 delivering approximately $360,000 in realized gains. The combination of the Nasdaq loss and copper gain resulted in a net weekly loss of $2.9 million for the trader’s overall book, who previously managed nearly $40 million in total scale focused on U.S. equities and on-chain precious metals exposure.

Repositioning Strategy in Current Market

The trader has substantially reduced overall position scale, now maintaining only approximately $4 million in active exposure. Current holdings are concentrated exclusively in long positions within Intel and Micron, suggesting a deliberate shift toward individual stock selection rather than broad index leverage. This tactical repositioning reflects both the volatility challenges in macro trading and the trader’s recognition that scale in directional bets carries asymmetric downside risk—particularly when leveraged vehicles amplify price movements by 10x or higher. The trader, previously known as the largest on-chain gold advocate, has clearly adapted their price management approach in response to recent market dynamics.