The trader, after suffering a cumulative loss of $4.89 million, went long on BTC with a large position. They currently hold a $5.43 million long position in Bitcoin.

BlockBeats News, July 16th, according to OnchainLens monitoring, a trader who had accumulated losses of $4.89 million has doubled down on a long position. They currently hold 84 BTC long contracts, worth approximately $5.43 million, with 40x leverage. The account also holds approximately $290,000 worth of HYPE long contracts and approximately $148,000 worth of PUMP long contracts.

In addition, the trader has placed a limit buy order for 6.56 BTC, worth around $424,000, with the order price set at $64,600 per BTC.