#美联储联邦公开市场委员会决议 A seasoned trader's 25x leverage ETH all-in play: floating losses of tens of millions yet still adding positions, what are they really thinking behind this?

Recently, a bold trading case has been hotly discussed online: directly going all-in with 25x leverage on 5000 ETH long positions, causing the market value to instantly break through the $10 million mark. The market experienced intense volatility, with floating losses smashing through 21 million, triggering frequent liquidation alerts. Watching the position near liquidation, the trader reversed and added 200,000 in margin to hold firm, while smartly adjusting the position and raising the liquidation line, ultimately pulling this nearly blown-up position back from the edge of collapse.

The most interesting part is his mindset: showing no change in expression during losses, and not rushing to escape when profitable. He continues to hold with a cost basis of $29.69, watching this ETH long position ride a roller coaster—recovering from a floating loss of 480,000 to a huge profit of 580,000, then closing with a loss of 730,000. This isn’t really trading; it’s like writing a script with money.

Many laugh at him as a gambler, but a closer look reveals: daring to keep adding in extreme market conditions and resolutely not leaving the position, the goal isn’t about short-term volatility. What he’s really targeting is the next big cycle in the crypto market. In other words, this "iron-blooded holding" approach, frankly, is the extreme application of dollar-cost averaging.

But to be fair, this strategy requires two things: first, enough capital to withstand floating losses; second, a steel-like mentality to endure volatility. Ordinary people without these two assets should steer clear of tools like 25x leverage. Leverage is a double-edged sword; used well, it accelerates wealth accumulation, but misused, it can wipe you out overnight.