This happened 2days ago, over $600 million has already been loss few days to 2024. Trading is hard and risky while using leverage makes it more risky especially using high leverages. One reason to avoid trading with leverage is that, these traders suffers more in pump and dump Schemes and also market Manipulations especially those traders who trade meme coins and other altcoins which are prone to this.
The best bet now is to HODL even if you are investing in altcoin find some trusted ones and HODL while if you reduce risk entirely just stick with bitcoin since we have seen alot of altcoins which fail to meet expectations.
Did you see billions of volume that is been trended on futures daily? That is to tell you that people love trading leverages than spot trading because of the quick profits. Many of them have less amount of money but want to feel the vibe of holding bitcoin profits and because they don't have the means, they sort to do futures trading.
However, many of them are clouded by greed, if not for lack of contentment and greed, why will you even be doing 25x leverage? They want to drive Lamborghini with their $20 balance.
Even if you desire to trade just use spot trading or any other offering less risk while when using leverage use small leverages and don't be too greedy to use stop lost and take profit.
A trader that knows what he is doing is supposed to go above 10x max, even that is risky but that's the max I think a trader should go, anything above that level is not trading neither will I called it gambling, that's an act of losing money deliberately because with 10x leverage, a 10% decrease will liquidate a trader and that is possible on a daily bitcoin candle, it's stupid to even think of going for 10x leverage.
Also you shouldn't be disappointed or give up in bitcoin or crypto investment if trading hasn't work for you just try to HODL bitcoin or at least do more proper research on the altcoin you choose to HODL while if you are still have desire to trade, reduce the amount you use in trading, try to avoid risk when necessary and continue to learn to improve your skills and knowledge about trading.
This has been discussed and will continue to be a topic of discussion, I just feel that people will do whatever they wish to do with their money irrespective of what people view them or think about them. Spot trading is one the simplest ways to make money not the easiest way because some people does lost money there as well and will called trading a scam. Even in future trading, we have people that makes money from there just that the number is small compared to people that loss to liquidation.