Machi Sells ETH, Doubles Down on BTC: Liquidity Crunch or Bold Bet?

um uMachi sold ETH to fund leveraged longs on BTC, ETH, and HYPE as losses top $27.5M and liquidation risk sits near $1,929.

Crypto markets are watching as Machi Big Brother restructures his portfolio and increases leveraged exposure.

On-chain data shows token sales followed by large long positions in Bitcoin, Ethereum, and HYPE on Hyperliquid.

Wallet Sales and Portfolio Rebalancing

Blockchain trackers show that Machi sold part of his Ethereum holdings along with several lower-value tokens.

The reported goal was to raise fresh margin capital. Soon after, new leveraged positions appeared on Hyperliquid.

Current spot holdings linked to his wallet include 6,200 ETH valued at about $13.34 million.

The wallet also holds 25 BTC worth about $1.72 million and 55,000 HYPE valued near $1.7 million. These figures are based on recent market prices.

The sequence of sales and new leverage has led to questions about strategy. Some market observers asked whether the moves reflect a liquidity need or a directional bet.

Partial Liquidation and Remaining ETH Exposure

Recent data indicates that Machi experienced another partial liquidation event. The losses have pushed his estimated drawdown above $27.5 million within the same 20-day period.

Market observers continue tracking wallet movements and derivatives exposure.

He currently holds 1,689.6 ETH in an open leveraged position valued at about $3.28 million.

The liquidation price for this position is reported at $1,929.08 per ETH. If Ethereum falls below that level, the position may face full liquidation.

Ethereum has traded close to that threshold during recent sessions. Leveraged positions on decentralized derivatives platforms can unwind quickly during sharp price moves.

Liquidation levels are triggered automatically when margin requirements are not met.

Related Reading: Machi Partially Liquidated Again as Account Falls to $92K

Exposure Across BTC, ETH, and HYPE

Beyond the leveraged ETH trade, Machi maintains exposure to Bitcoin and HYPE. The combined holdings across these assets exceed $16 million at current prices.

This reflects a continued bullish positioning across major crypto assets.

Hyperliquid data shows active long exposure rather than hedged positions. There is no public evidence of offsetting short positions tied to the same wallet.

This suggests directional conviction, although full portfolio details are not publicly known.

Market participants continue to monitor price action around Ethereum’s liquidation level.

Large leveraged positions can influence short-term volatility if forced liquidations occur.

For now, the strategy shows increased risk tolerance as Machi expands exposure during a volatile period.

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