High-Stakes Gambler Opens $80M in 20x ETH and BTC Longs — Again!

A notorious on-chain trader known as Gambler 0x049b has re-entered massive leveraged positions, opening 20x longs on 17,410 ETH worth $40.07 million and 493.43 BTC worth $40.01 million — roughly $80 million in combined notional exposure. The positions were opened simultaneously, suggesting a deliberate macro directional bet rather than a staggered entry.

Liquidation levels are tight by any standard: the ETH position gets wiped at $2,227.81 and the BTC position at $78,009.69. At 20x leverage, even a 5% adverse move erases the margin entirely.

The wallet has a track record to back the aggression — 0x049b has already booked $7.83 million in profits from prior 20x long and short trades across both assets, making this a repeat play from a trader with demonstrated edge rather than a first-time gamble.