Machi Big Brother reopens $34M leveraged ETH long with under $2M collateral

Beincrypto reports that on January 12 Machi Big Brother reopened a $34 million leveraged Ethereum long on Hyperliquid backed by less than $2 million in collateral.

The position moved against him almost immediately, dropping roughly $325,000 within hours. His Hyperliquid account shows $22.5 million in cumulative losses and sits more than $67 million below its peak equity, according to on-chain tracking. This follow-up trade comes after forced liquidations in December wiped out several of his ETH longs; in November and December he had built large ETH longs of around $20 million to over $25 million using 15x–25x leverage that collapsed during ETH’s pullback from the $3,300 area.

Ethereum is trading around the $3,000–$3,100 range after failing to break resistance near $3,300, with ETF outflows, fading Fed rate-cut expectations and cautious futures funding weighing on markets even as exchange supply remains low and staking locks up coins. Machi’s new position signals a bet that ETH will hold above $3,000 and rebound toward $3,300–$3,500, but with under $2 million of collateral a single-digit percentage drop could trigger another liquidation, making the trade a stress test of the current price floor.

Key Topics

Crypto, Machi Big Brother, Jeffrey Huang, Hyperliquid, Ethereum, Forced Liquidations