#BTC资金流动性 Extreme leverage trading has appeared again on-chain. A top trader is using 40x leverage to go long on BTC, while heavily holding $ZEC and $HYPE, aiming to recover $23 million through this market move — this already goes beyond the scope of trading.

Look, with 40x leverage, a slight price fluctuation can trigger liquidation. What is the essence of this kind of play? It’s betting your entire wealth on volatility roulette.

From a market perspective, the liquidation points of these whales often become focal points in the battle between bulls and bears. Large funds with extreme positions can indeed reflect market sentiment — but this is precisely the most dangerous time. Many retail traders follow these "signals" and end up losing, with only one word: loss.

The real situation is this: high leverage may seem like a shortcut to quick riches, but in reality, it’s dancing on the edge of a cliff. Bull markets are full of opportunities; the key is to survive until you can enjoy them. Dying halfway through, no matter how many reasons you have, is pointless.

So, how to play? Keep your distance, don’t get involved. Watch the changes in these large positions, but more importantly, stick to your risk control red line. Market volatility can indeed create opportunities, but only if you still have bullets in your gun.

Don’t forget: those on-chain high-stakes gambles are other people’s stories; your principal is your real chip in this round of the market.