83510088692 Cryptocurrency Market Major Events

It seems that the market won't turn back until James's long position is completely blown up. This morning, after Bitcoin dropped below 105,000 and James's position of nearly 100 million was liquidated, his losses this week have reached 100 million USD, equivalent to losing the 80 million he earned before this month, plus an additional loss of about 20 million in principal.

Currently, James's account still holds 177 million USD in long positions, with a liquidation price of 104,610. James's net assets have already dropped to only 8.6 million USD. At the rate he has been losing money in the past few days, it is possible that he will go bankrupt before the Dragon Boat Festival holiday. This week has been a rollercoaster for James. Within a week, he went from being the envy of many as a super gambling god to being despised as a gambling fool, fully demonstrating how risky high-leverage contracts can be. Of course, he may have secretly opened hedging positions because recently there have been several big players on hype who have been trading against James. Although he has not acknowledged this, regardless of whether it's true or not, I dare say that for most retail investors who trade contracts, their positions are all one-sided; they simply do not have the habit of hedging or protecting against risks, nor the ability to avoid risks. I hope that James's extremely poor performance this week can serve as a wake-up call for everyone to control risks, especially for those who have already accumulated some wealth in the cryptocurrency market. Do not get addicted to high-stakes games; there are many ways to make money in the cryptocurrency market, and contracts are precisely the lowest cost-effective option. In fact, most contract traders cannot even reap the benefits of industry development, after all, trading with USDT and not even having a single Bitcoin in hand is truly a failure.