2x-3x leverage is still understandable though, even though we can't deny, the liquidation is what make most of people who trade on future lose a lot of money.
With spot you're not concerned when BTC dumps, there's no such thing as liquidation price, but future trader have liquidation price even without leverage!.

That's why the saying holds truth, holder will most likely to make profit in every cycle.
But there are also future traders who gained big money from leveraged position. If you're knowledgeable with trading, leveraged position is like a good alternative to boost profit.