Since opening the short position on October 11th, everything went smoothly, but recently there has been a major reversal. This trader started aggressively adding to their Ethereum long positions the day before yesterday, and continued to increase their position yesterday, leading many followers to join in.

The current situation is becoming unsustainable—profit on paper has suddenly plummeted to huge losses, with unrealized losses exceeding 23 million USD, equivalent to over a hundred million RMB.

This is quite heartbreaking, serving as both a reflection of market volatility and a real-life example of leverage trading risks. Adding to long positions in a market moving against you often accelerates liquidation; a loss of over a hundred million dollars clearly illustrates the point. For ordinary traders, this kind of case is worth remembering—following the crowd and over-leveraging are always sources of risk.