ETH Trader Trims Position After $5 Million Loss, Liquidation Price Sets Stage for Market Volatility
Large Ethereum (ETH) trader Machi Big Brother recently absorbed over $5 million in losses after just one week and trimmed his ETH perpetual long position to 20,000 ETH ($47.98M), according to data from Lookonchain.
The liquidation price for the remaining position is $2,380.57, which would trigger a forced close of the position if reached, unleashing approximately $47.98 million in sell pressure on an already declining market.
Notably, Machi's decision to trim his position under loss pressure indicates capital preservation over conviction accumulation, suggesting that he is prioritizing risk management rather than aggressively adding to his losses.
This move has significant implications for the Ethereum market, particularly if ETH price continues to slide towards the liquidation level. Abraxas Capital's recent $1 billion Hyperliquid short and 13,700 ETH spot accumulation represent a structurally opposite playbook, highlighting the diverse approaches taken by large traders in response to market downturns.