Well-known figure in the crypto circle, Huang Licheng, has really encountered a tough challenge this time.

On-chain data shows: the $35.8 million Ethereum long position is currently facing a paper loss of $3,440. The more concerning point is that the liquidation price is set at $3,201, and the current price is less than $28 away from this critical threshold.

If ETH loses the $3,200 support level, a chain reaction of liquidations is likely unavoidable. The market is very tense right now, with both bulls and bears engaged in a tug-of-war at this level.

Honestly, if even players holding positions worth tens of millions can get caught like this, ordinary investors should carefully assess their risk tolerance. There’s a market rule — the darkest moments often give birth to opportunities, but during the most frantic times, caution is essential. Holding at $3,200 for ETH might spark a rebound; if it fails to hold, a short-term dump may be unavoidable.

At this critical juncture, a few key points must be closely monitored:

The battle between bulls and bears in the $3,200 to $3,220 range essentially determines the short-term trend. Don’t rely solely on signals or hype; position management is more important than any single move. Before the market chooses a direction, the smartest approach is to wait rather than gamble.

The cases of large traders getting wiped out remind us: faith cannot be eaten, and strategy is the real capital for survival.