Recently, the market is confusing, with a tug-of-war between bulls and bears; some win by lying down, while others suffer huge losses.
And today's event is truly a 'living textbook' in the crypto world: a mysterious trader, ID named qwatio, actually blew up 8 times in just a week, with total losses reaching 12.5 million dollars (equivalent to over 360 million RMB)!
As someone who has long been immersed in the derivatives market, my first reaction to this news was: 'How did he do it?!' But after diving deep into his operations, I can only say - it's a textbook-level example of high-leverage operation gone wrong; every friend keen on contracts should take a look.
Eight consecutive liquidations, reviewing qwatio's 'gambling roadmap'.
According to Lookonchain's on-chain tracking, this guy blew up 8 leveraged positions in a row over the past week, all with large contracts in Ethereum and Bitcoin. For example:
Opened a 25x long position on ETH, only to be liquidated down to nothing.
BTC positions also faced liquidation, with a new stop-loss set at 109,170 dollars, but the market price has been hovering on the edge of danger.
What's most absurd is that before these losses, qwatio was not a novice! In March, he made 6.8 million dollars using 50x leverage by betting on the narrative of 'Trump issuing tokens'! He had his moments of glory, but ultimately fell due to greed and fluctuating market emotions.
Billionaires are no exception: James Wynn personally staged the 'car crash scene'.
If qwatio is a retail gambler, then billionaire James Wynn is the 'textbook example of a professional player's opposite'.
This legendary trader, who once lost 1 billion dollars, recently returned to the battlefield, shorting BTC with 40x leverage aiming for a profit of 1.49 million dollars... only to change his mind a few hours later, switching from short to long. His aggressive trading style makes one exclaim that this is not trading, but playing with life.
By the way, this guy just got liquidated on nearly 100 million dollars in long positions at the end of May and lost another 25 million in June. There are rumors in the market that his anonymous account just did a super-leveraged BTC trade worth 300 million dollars on June 10... this is truly insane.
The truth about high leverage: heaven and hell are only one candlestick apart.
You might say at this point: 'Is leverage something that shouldn’t be touched?' Not necessarily. In fact, in the same market, there's another low-key trader who started with 6,800 dollars and made a whopping 1.5 million in two weeks, with a trading volume of 1.4 billion directly rocketing to the top of the platform's total market maker rankings.
So the issue is not leverage itself, but whether you can master it.
High leverage is an amplifier, amplifying your 'human nature'.
Loss of control, frequent heavy positions, no stop-loss... these are the real killers.
qwatio exploded 8 times in a week, not because he couldn't trade, but because he couldn't control himself.
I always say that those who survive in the crypto world rely not on luck, but on 'rationality + patience'.
Don't expect to get rich by going all-in on every trade.
Manage your positions well, keep your mindset stable; sometimes 'not making money' itself is a victory.
Every liquidation story is actually a reminder. Today it's qwatio, tomorrow it could be us.
Contracts are not the terrifying flood, but human greed is the biggest leverage.
This is where the article ends! If you're confused in the crypto world, consider teaming up with me to layout and reap the benefits from the market makers!