If you:

- borrowed against your Bitcoin stack when Bitcoin was $126K

- had a 38% or higher LTV (loan-to-value) on your entire stack ($47,944+ loan if you have 1 BTC)

- didn't have any more collateral to add when you received a margin call at 70%

You would have gotten liquidated in today's wick down to $59,930, with an LTV of 80% ($47,944/$59,930)

If you're going to borrow against your Bitcoin, always try to keep your LTV BELOW 10% so you can add more collateral whenever it's needed

10% LTV will protect you in case Bitcoin drops to $15,750, or 87.5% from the top

Don't get liquidated

Your lender will sell your Bitcoin at a massive loss to pay off your loan, and the process is automated (no negotiations)