When a decision is made in haste: trader loses nearly a million dollars on ETH's local day

The situation that unfolded yesterday evening in the crypto market clearly demonstrates how emotional decisions can be costly. According to Foresight News, citing network monitoring, one address on the blockchain executed a massive liquidation of a position at the lowest point, thus losing a significant amount of potential profit.

**What exactly happened**

The address starting with 0x074 sold all its holdings of 3,296 ETH ( with a transaction value of approximately $10.3 million ) at the moment when the market was trading at a local minimum 11 hours ago. The trader received $292,000 in profit from closing the position, but this was only a tiny fraction of what could have been earned.

**The day before this hurried liquidation, the position looked much more attractive.** Two days prior to the sale, the position boasted an unrealized profit of $1.266 million. The position was opened on December 2 at a price of $3,029 per ETH. A sharp market correction forced the trader to hurriedly liquidate the position, missing out on approximately $970,000 in profit.

This case serves as a good reminder of how important it is to plan risk management strategies and not let emotions drive trading decisions during market turbulence.