Have you heard those stories about people losing everything in cryptocurrency trading? On February 3, 2025, one of my fans lost all his savings overnight.

He was originally saving for a down payment on a house. Last year, seeing his neighbor making money in crypto trading, he felt the itch. Bitcoin soared from over $60,000 in 2021 to over $100,000 at its low in 2024, and he couldn't sit still. He gritted his teeth and invested all his savings of 600,000 that he had saved for three years, even adding 5x leverage on the platform. He calculated that with just a 10% rise, he could make 300,000, which was much faster than saving from working.

As a result, on the morning of February 3, he was bombarded awake by SMS notifications. When he opened his eyes, Ethereum had plummeted sharply, and he panicked, his hands shaking, quickly trying to close his position, but the leverage platform was frozen, and it took ages to respond. He watched the numbers in his account plummet, and by the time the page finally refreshed, his 600,000 principal was down to just over 40,000, completely liquidated, dropping from $3,000 to $2,100, a 27% drop!

The cryptocurrency market experienced an epic collapse, with 720,000 people being forcibly liquidated within 24 hours, totaling $2.21 billion in liquidations. Among them, Bitcoin futures had the largest liquidation share, while Ethereum became a disaster zone with a single-day drop of 27%, with about 40% of the liquidations concentrated in Ethereum contracts. I heard that a big guy on the same platform as him invested 3 million to go long on Ethereum, and in half an hour, he lost it all, sitting in front of the computer in a daze, unable to speak.

Now, this guy often says: "If I had known not to use leverage, even if it dropped 27%, at least I could have kept over 400,000." Unfortunately, in the crypto world, there’s no medicine for regret. When it goes up, it feels like riding a rocket; when it drops, it's like falling off a cliff. Especially for those playing with leverage, making a little money when the market is good, but when it drops, it's a complete loss. It's really harder than climbing to the sky for ordinary people to make a profit in the crypto world.

After reading this true story, I believe everyone feels shocked! The high risks of the crypto world have never been empty talk; one impulsive action can turn years of savings into bubbles. Do you have similar painful experiences around you? Feel free to share in the comments to raise awareness! Tap your fingers to like and share, so more people can see the risks and avoid making the same mistakes! Follow me for more guides on avoiding pitfalls and rational investing!