According to @bobbyong, Friday’s crypto futures liquidation wiped out many traders, including those using only 1.5x leverage, underscoring how brutal perpetual futures can be during volatility, source: @bobbyong. He advises never allocating an entire portfolio to perps and to keep a percentage in stablecoins or cash plus some spot positions so there is capital to rebuild after wipeouts, source: @bobbyong. He also suggests placing very low stink bids near zero to potentially capture deep wick fills during chaotic crashes, source: @bobbyong.

According to @lookonchain, James Wynn’s ETH long was partially liquidated within 10 hours, leaving a remaining leveraged long position of 71.6 ETH valued around $300,000, based on the account update shared by the source. According to @lookonchain, the new liquidation price for the position is $4,113.1, marking the specific threshold at which the rest of the position would be liquidated for this account.