Renowned trader Machi, known as @machibigbrother, experienced full liquidation on his long positions in Ethereum (ETH) and Bitcoin (BTC) amid volatility in the cryptocurrency market. Liquidation occurred as his positions incurred losses severe enough that brokers automatically closed them to prevent further damage, resulting in total losses exceeding $28.8 million. Despite this setback, Machi has opened a new leveraged long position on Ethereum with 25x leverage. While leverage amplifies potential profits, it also significantly increases financial risks, as even small price drops can lead to substantial losses. The crypto market remains highly volatile due to factors such as large numbers of investors, global economic conditions, and varying acceptance of different cryptocurrencies. Machi’s decision to open a new position may reflect an aggressive strategy based on expectations of a market recovery. Investors are advised to exercise caution and implement prudent financial planning to mitigate unexpected losses in this unpredictable environment.
Source: binance
