Machi Cuts Part of Ethereum Long as Price Decline Deepens

According to the latest update, Machi Big Brother reduced a 1,000 ETH long worth about $2.16 million but still held $9.51 million in perpetual positions at 36.05x leverage, with losses remaining under pressure.

ETH

Summary

Machi Big Brother reduced a 1,000 ETH long position worth about $2.16 million as Ethereum’s weakness continued. The latest figures show the address still holds $9.51 million in perpetual positions with 36.05x leverage, carrying an unrealized loss of about $514,000 and a liquidation price of $2,095.92. The update also said weekly profit and loss swung sharply from more than $3 million in floating profit to a loss of about $419,000.

Terms & Concepts
  • Long position: A trade that benefits if an asset’s price rises and loses value if the price falls.
  • Liquidation price: The threshold at which a leveraged position may be forcibly closed to prevent further losses.
  • Perpetual positions: Derivative contracts with no expiry date that let traders maintain leveraged exposure to an asset’s price movements.