In this circle, I've been around for so long and have witnessed too many tragedies—those who firmly believe that going all-in can make them rich overnight, only to end up not even getting their principal back. Today, I need to say some harsh truths: over 90% of liquidation events in the crypto world ultimately boil down to two words—greed and stubbornness.

**The Truth About "Courage" Is Actually Very Harsh**

Many people keep touting that "heavy positions are the only way to make big money," but do you know what’s behind those successful heavy positions? Luck combined with perfect market timing. That’s all.

During the Bitcoin flash crash at the end of 2025, over 190,000 people were liquidated in a single day, with total losses exceeding $500 million. Among those who were liquidated, most were "experts" who pushed leverage to the limit, confident they could withstand any volatility. And the result? A single spike, and their accounts were wiped clean.

The more ironic part is—even if you get it right 99 times, just one black swan event (policy changes, unexpected actions by the Federal Reserve, chain reactions of certain tokens) can wipe out your account entirely. Wake up, everyone. There’s no such thing as "stable high profits" in the crypto world. Those who show off their doubled or tripled holdings don’t tell you about all the pitfalls they’ve stepped into. That’s called survivor bias.

**High Leverage Is Like Drugs, Not Candy**

10x leverage sounds not too crazy? Just a 1% move against you, and you’re liquidated; 50x leverage? A 2% fluctuation is enough to wipe out all your principal.

Recall the bear market of 2024, when Bitcoin dropped below $70,000, and 140,000 people were liquidated in an instant, losing $363 million. Honestly, these people weren’t clueless about the market; once they opened high leverage, there was no chance to add to their positions. Exchanges don’t care about your life—liquidation fees are still collected, and some suspect certain platforms might be secretly "triggering" liquidations to profit from the price difference.

I set a simple rule for myself: any trade with more than 5x leverage is outright gambling. No seasoned trader survives long relying on high leverage. Risk control may seem dull and boring, but it’s the most overlooked aspect.

Instead of dreaming of defying the odds overnight, learn to trade with the right methods and reasonable scale. This circle tests not your courage but your rationality.