#美联储重启降息步伐 ETH's recent correction has caused a major setback for a trader named Maji. He previously used a rolling position strategy to bet on ETH rising, and at one point his paper profits were quite substantial. Now, however, there's only a $42 buffer left before liquidation.

Here's what happened: Maji started rolling long positions when ETH was at $2,840, investing $500,000. Two days ago, when ETH surged to $3,200, the value of his position skyrocketed to $3.34 million—an incredibly tempting return. But rolling positions is a double-edged sword: while leverage amplifies gains, it also pushes the liquidation price up to $3,000.

Then came the turning point. Early this morning, ETH suddenly corrected below $3,000, and his position was liquidated twice in a row. His $3.34 million paper wealth instantly shrank to $730,000, nearly wiping out all previous gains. To make matters worse, his remaining position is now just $42 away from the next liquidation—a nerve-wrackingly small margin.

This case proves once again: in high-leverage trading, paper gains and actual profit in hand are two very different things. A slight market shakeup can render all previous efforts worthless. Maji's current situation is like dancing on a tightrope—one misstep and he's done for. Where ETH goes next will directly determine whether this trade barely survives or ends in a complete wipeout.