Massive $1 Billion Bet Sparks BTC Surge This Week

A crypto trader known only as Alex Carter has recently captured the attention of the financial world. Having made a staggering $1.2 billion in bets on Ethereum, his bold strategy is generating discussions among both enthusiasts and skeptics alike.

Ethereum Investments Hit New Heights

Carter announced on social media that his investment in Ethereum peaked at approximately $1.2 billion on June 1. Utilizing a combination of personal savings and leveraged finance, he managed to amplify his stake by 50 times. His position is held on BlockX, a decentralized trading platform known for high liquidity and perpetual futures. Recently, he decided to scale back his position, reducing it to around $900 million as Ethereum began to rise.

Massive $1 Billion Bet Sparks Btc Surge This Week

Data from ChainInfo indicates that he entered at an Ethereum price of $4,300, with a protective measure set just below $4,150—this way, if Ethereum dips that low, his whole position could be liquidated. As of mid-afternoon on the last trading day, he was already sitting on an unrealized profit nearing $60 million.

Carter’s Background in Altcoins

Alex Carter is not new to the crypto scene. Earlier in 2023, he gained attention by accurately predicting the rise of the Dogecoin alternative, which he forecasted would hit a market cap of $3 billion. By the end of 2024, Dogecoin surged to a whopping $10 billion, confirming Carter’s predictions. A wallet associated with “acarter.eth” executed a significant trade involving $5 million worth of Dogecoin, allowing him to reap substantial rewards.

High-Stakes Risks Dwell Ahead

Carter’s massive bet carries substantial risks. Should Ethereum dip below $4,000, it could mean the end of his position. Reflecting on this, he mentioned a potential strategy to inject additional funds rather than face liquidation. In a volatile market, small shifts can cascade into forced liquidations and significant losses for traders.

Market Sentiment Boosts Strategy

Market analysts suggest there’s a roughly 70% chance Ethereum could spike to $4,500 this month, as indicated by trading platforms. Influential figures like JPMorgan’s crypto analyst, Lisa Morena, predict that Ethereum could reach $5,000 by August. These forecasts resonate with Carter’s expectations of hitting between $4,600 and $4,800 by next week, with aspirations to breach $5,000 thereafter.

Navigating Market Challenges

Ethereum reached $4,320 on June 1 before experiencing minor fluctuations. Traders have noted that while rapid gains can be enticing, quick sell-offs can occur just as easily. On decentralized platforms like BlockX, transaction fees can accumulate quickly, presenting challenges for traders aiming to exit positions smoothly.

Measured Approach from a Bold Trader

“While some see my approach as reckless gambling, I do it based on a solid analytical thesis,” Carter stated. Whether his judgment proves correct remains to be seen. As of now, his high-stakes trading style has garnered both interest and caution among fellow traders.

Image Credit: Unsplash; Data Source: TradingView

Emily Walker
Emily Walker
Crypto News Editor

Emily brings structure, clarity, and journalistic integrity to Bitrabo’s daily news coverage. With years of experience in tech journalism, she ensures that every headline, update, and developing story is accurate and impactful. From breaking regulatory news to market movements, Emily’s editorial oversight keeps Bitrabo’s news content timely, trusted, and engaging.