Contrary to popular beliefs, the reason why people need more than 20x leverage for bitcoin is not far-fetched. Bitcoin is not a big asset and it doesn't pull large percentage gains for day traders and that's why they need more leverage sometimes to enable max position sizing. I'd say 20x leverage are around the range for top tokens like solana, bnb or eth but as always, high leverage doesn't always equal profitable. I've seen people that have been profitable with even 2x leverage longs/short on bitcoin as well as successful traders that uses 100x leverage to long/short bitcoin.

Earlier this year on CT, a guy shared a trade he took on BTC after FTX collapse. His entry was 16k and leverage was about 100x. He had held the position for over 3 years and counting even with that leverage size.