Cryptocurrency market experiences another explosive move. On December 25th, on-chain monitoring data showed that a well-known large holder engaged in a high-leverage gamble on Ethereum—long 7525 ETH with 25x leverage. The position's total value is approximately $22.02 million, with an average entry price of $2975.54.

Typically, such large trades are seen by the market as a bottom-fishing signal, as big players' instincts are often regarded as market indicators by retail investors. However, this time the timing was off, and the current position is already showing a loss of $375,000. It's no exaggeration to call it a bloodbath; the market is watching with concern.

25x leverage is inherently a high-wire act. Slight price fluctuations of a few percentage points could trigger forced liquidation. Not just big players, anyone encountering this level of leverage must be cautious. This incident also clearly illustrates a principle: correct judgment of the direction can amplify gains with high leverage; wrong judgment can similarly magnify losses infinitely.

The market is now speculating—Is this a contrarian move betting on Ethereum's long-term bullish outlook, or simply a high-position chase after missing the boat? Regardless of the scenario, this loss serves as a wake-up call to everyone involved in leveraged trading. Leverage itself isn't the problem, but robust risk management is essential.