> You can't buy the dip during a peak.

The people who bought in at around >$40K and higher just did that and are now bag-holding in drawdown.

> PP got a loan at 50 which is a bearish trade, halfway to shorting.

Well no wonder they received multiple margin calls when the smart traders were taking profits or shorting from >$60K with him ending up on the wrong side of the trade or entering at higher prices and holding into unrealised losses.

It's completely different, OP still owned the BTC, it was just collateral to a loan. The loan currency was presumably USD, so they were short USD but still long BTC.