A friend has been liquidated for 120 million...

On May 7th, a young lady came to me and said that one of her big brothers opened a short position of 600 BTC at $88,500. I looked at the screenshot she sent me, and it showed a floating loss of 6.44 million dollars. This big brother entrusted the young lady to ask for my advice on whether there is a risk of liquidation (forced liquidation price $101,553), at that time BTC was around $97,000.

This young lady is my fan (I don't know if the big brother is). She has attended my offline class, so we added each other on WeChat. She repeatedly reads every tweet I post, and sometimes when she doesn't understand something, she messages me on WeChat. She is quite a familiar friend with whom I often communicate.

Usually, I don't give any investment advice to friends who consult me. But when I saw this amount, I was still very shocked. My first reaction was to want to help her, so without much thought, I replied that I advised her to adjust the liquidation price to $120,000, as $101,553 was definitely not safe.

I know that adding to a position at this point is irrational. When life and death hang in the balance, we have actually lost the right to choose a bold cut. Such a large position opened with 10x leverage in a counter-trend situation is clearly beyond saving.

The next day, the young lady messaged me saying that the big brother was liquidated, and 120 million was gone... 120 million is an amount that most people will never see in their lifetime, and to disappear overnight truly makes me feel immense regret. This is not a joke; it is a real event that happened.

Leverage is an incredibly sharp double-edged sword that ordinary friends cannot handle. Perhaps you often see bloggers flaunting their brilliant achievements in contracts, and you must have a thousand reasons to convince yourself, "Why can others do it and I can't?"

However! What I want to say is that what you see is what others want you to see! In reality, there are countless "big brothers" whose abilities, strength, and insights far exceed yours, who also suffer losses and fail on the contract battlefield. And these are things you cannot see! Please remember! In the cryptocurrency world, we are not competing on who earns more, but on who survives longer...