The current price is stuck at the $132 mark, with both sides holding nearly $400 million in high-leverage positions. The situation is like a barrel of explosives ready to blow at any moment. A slight breeze could trigger a chain reaction.

The data is very sobering. If the market moves up 10% to $145, $217 million in short positions could face liquidation; conversely, a 10% drop to $119 would force out $183 million in long positions. This is not a coincidence but indicates that the market is tightly locked here—no one wants to admit defeat first, so everyone is leveraging heavily, just waiting to see how the other side will die.

This deadlock is actually the most dangerous. As soon as one side begins large-scale liquidation, the price will accelerate in that direction like a falling domino, and volatility will be terrifying. During the market crash two years ago, positions worth $70 billion evaporated within two days. Although the scale varied each time, the underlying logic remains the same.

For ordinary investors, how to survive and exit at this stage?

Don’t be stubborn. Don’t think you can predict the market direction; high leverage is essentially gambling. The first step is to reduce leverage. When the market "pokes" to stop-loss, it happens in an instant. Keeping a light position at least allows you to continue playing.

Second, focus on two key levels: above $145 and below $119. You can place orders in these zones to test your luck, but don’t treat it as a guaranteed winning plan. Most importantly, your position must have a stop-loss—this is not optional but a lifesaver.