Recently, an interesting case has been circulating within the industry. A well-known trader used 40x leverage to heavily long Bitcoin futures, only to encounter a sudden "pin" market move. In just a few hours, the account went from a floating profit of 300,000 to a loss of over $23 million. Honestly, such sharp rises and falls are not uncommon in the crypto market, but each time they serve as a reminder—high leverage is like a double-edged sword.

The volatility of Ethereum and Bitcoin has been quite significant these days. Many people see whales continuing to add positions and think the opportunity is here, and this logic isn't entirely wrong. Market bottom fluctuations often contain opportunities, but the prerequisite is that you must survive until you see that opportunity. The lesson from this incident might be—no matter how strong a trader is, they must respect risk management. Even large players can be caught off guard in extreme market conditions.

What do you think about these kinds of events? To what extent should leverage be used reasonably?