those that have the highest amount of money try to reduce their risks as much as possible to protect their capital, so it is interesting that the ones that have many times less capital choose the opposite strategy and they are reckless with their capital when it is so low
Exactly the case, the people that have enough money to trade and patient (because not all that are patient), they will not even leverage at all, this helps them in many cases, the market can go against there direction to the extent they would have been losing much but later the market will correct itself to the extent such traders will make profit at the end, but if they had leverage the position opened, then the moment wof have liquidated. Some people will also prefer to wait for market to decrease a little, then enter market without leverage, this also helps because no matter how bitcoin drops, it will still increase back and surpass the price of the position opened.