A person's big loss often happens after small losses, when their mindset gets messed up and they start panicking and selling everything to zero.

It's like eating out; the noise from the next table is just a bit louder, but if you start arguing loudly, you might end up fighting and getting detained, or even worse, getting cut.
I've seen many contracts go to zero.
Basically, if you admit your mistake early, you won't lose too much.
Most keep holding and adding positions until their big head gets trapped inside.
There's no way to close the position.
Actually, that's okay.
You might still have 20-30% left.
But they subjectively think it's already hopeless.
So they keep holding until it hits zero.
When it finally hits zero,
you realize that 20% of the original capital was a lot of money.
As long as you buy a coin with 5x leverage, you'll recover everything.
But once you've lost everything, it's as hard as climbing to the sky to realize it.
At this point,
if you can stop, it's not a big problem.
But many people keep messing around.
Borrow through online loans,
and in the end, can't even pay the interest.
Life is completely ruined.
People are not incapable of borrowing money.
You can do it at any time.
But managing leverage requires skill.
Many people lack this skill.