If this continues, it will be a spiral explosion.

😱 A big player holding hundreds of thousands of ETH is demonstrating what a 'death spiral' looks like!

Yi Lihua (Jack Yi) has been frantically selling off in the past 24 hours: the collateralized ETH has dropped from 550,000 to 533,000, and the loan has decreased to 793 million, but the liquidation price remains high at $1,792. It's like falling into quicksand— the more he sells to drive down the price, the further the price falls; as the price drops, his liquidation risk increases, forcing him to sell even more. It's a vicious cycle with no solution.

His real Achilles' heel is: putting all his eggs in the one basket of 'only long, not short,' with no risk hedging. What now? Continuing to sell off is a slow form of suicide. Some have even envisioned the extreme solution of 'cutting off the wrist and detonating voluntarily': first withdrawing some ETH to short hedge on other platforms, then actively letting the main position liquidate, using the profits from the short to buy at the bottom. Theoretically, this can preserve some principal, but in reality, it could likely trigger a liquidity black hole and uncontrollable cascading failures, which is a life-or-death operation.

This is a bloody lesson for everyone:

1. Leverage is a knife, not a toy: it can make you rich, but it can also bring you to zero in an instant.
2. Never bet unilaterally: no matter how optimistic you are, always have a hedging or stop-loss plan.
3. Surviving is the most important: in the crypto world, 'staying alive' is a thousand times more important than 'having made a profit.' Holding billions can still lead to dire straits; ordinary people should respect the market even more.

Now the entire market is watching how this giant position will conclude. This is not just his war; it is also a stress test of the market's resilience.

Do you think he has a way out? $ETH
{future}(ETHUSDT)