In the severe pullback from last night to this morning, the trader known for 'rolling positions to go long on ETH' faced liquidation. According to public data, he initially started high-leverage rolling operations with a principal of $125,000, and at one point his account profits exceeded $9.19 million, but during this round of decline, his positions were completely wiped out, leaving him with only about $70,000 in margin.
This case is quite representative in the cryptocurrency circle: from getting rich to zero, the process is only separated by a round of significant fluctuations. High leverage amplifies profits, but also simultaneously amplifies risks; when a black swan event occurs, it is often difficult to have an escape route.
The experience of this 'Rolling Position Guy' serves as a reminder to market participants—high leverage is not a sustainable means of becoming wealthy. Even in a context of continuous profits, just one misjudgment can lead one back to square one or even to a total loss. The truly long-term surviving traders do not rely on repeatedly betting on the right direction, but rather on risk control and position discipline.
