A high-profile crypto investor known as Machi Big Brother has lost $2.16 million in the last seven days on leveraged long positions in Bitcoin (BTC) and Ethereum (ETH), according to on-chain analyst Ai Auntie. The loss highlights the precarious nature of the current digital asset market, which has seen significant volatility and widespread liquidations.
"Approving a transaction is meant to be the last line of defense when exercising control over what happens to your assets on the blockchain," the Ethereum Foundation wrote in a recent blog post about its new "clear signing" initiative. "When it is done blindly, that defense does not hold." While not directly related to the trading loss, this statement underscores the importance of risk management in the crypto space.
The recent market turmoil has not been isolated to a single investor. In the last 24 hours alone, the broader crypto market has seen $243.15 million in liquidations, with long positions accounting for approximately $182.35 million of that total, according to data from CoinGlass. Bitcoin and Ethereum traders were hit the hardest, with liquidations of $58.96 million and $57.65 million, respectively.
Despite the recent setback, Machi Big Brother maintains a significant bullish stance, holding a long position of $40.59 million, comprising 101 BTC and 14,150 ETH. This position is currently showing a floating loss of $484,000. The investor's continued exposure suggests a belief in the long-term appreciation of these assets, even as short-term indicators point to a challenging environment for leveraged traders. Ethereum, in particular, has been underperforming, being the only top-10 cryptocurrency in the red this week, with the ETH/BTC ratio hitting a 10-month low.
This article is for informational purposes only and does not constitute investment advice.
