Conviction vs. Leverage a real-time lesson in $ETH trading

A known $ETH bull, 0xa5B0, just closed a 70+ day long at an $8.8M loss only to re-enter immediately with a 20× leveraged long on 60,000 ETH (~$122M).
Within hours, that position is already down another $1.4M.

This isn’t just a whale trade it’s a reminder:

Strong conviction doesn’t cancel timing risk

High leverage compresses patience

Even seasoned players get tested when markets chop

Markets don’t reward belief. They reward positioning.