Under the great stimulus of US-China tariff relaxation, BTC surged to $106,000, and ETH soared 40% in three days, quickly becoming the top trending topic on TikTok. Old Altcoins and MEME tokens bloomed under market momentum, with daily green candles exceeding 30%. Those who got on board were overjoyed, while those who were short were dizzy. Crypto holders have won big again.
Even my friend told me: Going out for dinner, walking on the street, suddenly feeling like the world is mine. Spending 300 on dinner, and after checking the exchange, I gained 3000u, which means spending nothing. This is the confidence crypto gives me!
I opened my wallet homepage, refreshed the asset balance several times, and never replied to my friend.
Degen Taught Me a Lesson
On May 13th, I was operating DEGEN with 20x leverage on the top gainers list early in the morning. DEGEN happens to be the English translation of "gambler". As a reward token for Farcaster, a Web3 social application once backed by V God, and the native token of Degen L3 chain, it performed well in 2024 (I once bought at the high), but after more than a year of decline, its original technical background and investment team have lost meaning, becoming just another unshilled "quality" Altcoin.
Last night before sleeping, I had already seen signs of DEGEN trying to break through on the gainers list, but due to sleepiness, I missed it. At 7:30 this morning, I saw a massive green candle breaking through the sky, topping the gainers list. I broke down and went long with 20x leverage, bravely standing at the peak.
After cutting losses, seeing BTC and other mainstream coins showing a pullback trend, I reluctantly shorted, torturing myself between profit and loss while watching the fluctuations. Finally, I quickly closed my position within the first half minute of the official drop, instantly breaking down and continuing to short, but panicking and closing every time it rebounded. So even with DEGEN's 20% pullback, and basically shorting, I still didn't make much profit.
In the end, BTC rebounded, and I continued my habit of shorting DEGEN. After DEGEN's minute-level violent surge, I could only cut losses in place. After counting, I lost 50% of my contract position after working all morning.
Similar losses have cycled N times these days.
When the entire network is shouting "bull market is back", there's always a group like me, staring at liquidation emails. They're not ordinary investors, but evolved "reverse operation gene" loss warriors, using real money to interpret the loss philosophy of "more greedy than others, more broke than others".
They've welded "not admitting mistakes" to their trading accounts, where "liquidation is stop-loss" is no joke. When BTC was at $86,000, they opened short positions, firmly believing they were "Soros reincarnated", shouting about a technical pullback when BTC broke 90,000. When BTC broke 10w, their voices became smaller, and their nearly zero positions still clung on.
Opening the position record, these manual traders' entry frequency is horrifying, with "BS" (Buy & Sell) filling the 15-minute lines of a single target. Looking at contract analysis, losses far exceed profits. When they analyze Powell, US stocks, US bonds, and gold trends eloquently but end up wiping tears at liquidation notices, they'll say, "See, I told you the main force would dump, I just opened early!"
The most vivid case is the "position-holding veteran" in my contract group, who transferred all USDT to a shady platform and immediately opened a 500x short position when BTC broke $100,000, daily live-streaming his position-holding diary:
"Day1: Margin still 70% left, Bollinger Band top divergence, RSI overbought, Air Force One assembling";
"Day2: Deposited wedding anniversary red envelope as margin, wife scolds me for crypto madness, she knows nothing";
"Day3: Last message before liquidation was 'It's all exchange needle insertion, I'm going to rights protect'".
After liquidation, the veteran felt relieved: "Now it's good, no need to explain to my wife why the phone is still bright at 3 AM."
Another post-00s crypto friend proudly told me: "I never look at K-lines when playing contracts, only mood indicators - short when others say charge, charge when others say short, exciting like pig jumping without a safety belt!"
As a result, on the night of ETH's surge, he turned 300U principal into 5000U in half an hour, screenshot shared in the group, but 15 minutes later he sent a message - "Brothers, goodbye, blown up."
Every bull market is like a grand Ponzi dance, everyone dancing on the K-line. Those crying with liquidation notices, those disappointed in the revelry, are not unintelligent, but blinded by greed - stop-loss, leverage, risk. Before the real profit/loss numbers madly jumping, we must admit that we'll basically be dizzy.
So, every time you want to show your profit screenshot, it's often the best time to secure your gains.
