Huang Licheng’s 25x ETH long and 40x BTC long have already started getting reduced. On the morning of October 7, ETH was around $2,696 and BTC around $85,444 (Binance). His account has an unrealized gain of $948,000. Just take this number as a reference—high-leverage unrealized gains and the money you actually walk away with differ by one round of closing positions.
His ETH entry average was $2,689.86, basically right near the current price. His BTC average was $84,908.7, only slightly higher. Cutting down at this point, I’d rather interpret it as not wanting to keep waiting for profits to ride the elevator down.
Ordinary people can learn a bit: when the price rises and you have some profit, reduce a small portion first to bring your cost down. Then the mindset for the remaining position will be much steadier, and the drawdowns won’t feel as unbearable. No matter how pretty the unrealized profit looks, if you don’t lock it in, it’s only a number on a screen.
His ETH entry average was $2,689.86, basically right near the current price. His BTC average was $84,908.7, only slightly higher. Cutting down at this point, I’d rather interpret it as not wanting to keep waiting for profits to ride the elevator down.
Ordinary people can learn a bit: when the price rises and you have some profit, reduce a small portion first to bring your cost down. Then the mindset for the remaining position will be much steadier, and the drawdowns won’t feel as unbearable. No matter how pretty the unrealized profit looks, if you don’t lock it in, it’s only a number on a screen.