25x leverage is to much.
Anyone that use that amount to opened long position at a price around $119000 or at a higher price for bitcoin would have been liquidated.
I prefer to just go for 5x maximum which is better.
What I am surprised with are people trading with millions of dollars and still using leverage. If I am such people, I will not use leverage at all.
Leverage of 5x is a conservative measure to protect our capital in a volatile market, but in my opinion, 25x is not a problem as long as the margin settings are reduced and the liquid funds are 30x larger than the margin position when trading futures, as this prevents liquidation at prices that are too close, such as within the price fluctuation range of BTC $110k to $120k, in which case we would see a floating loss in our calculations.