Machi Big Brother Is Back With His Biggest Ethereum Bet Yet

Source: CryptoNewsNet Original Title: Machi Big Brother Is Back With His Biggest Ethereum Bet Yet Original Link: Machi Big Brother has returned to Ethereum markets with one of his most aggressive trades yet. On January 12, the high-profile crypto whale re-opened a $34 million leveraged ETH long on Hyperliquid.

The position moved against him almost immediately, leaving the trade down roughly $325,000 within hours. However, the bigger picture looks worse. His Hyperliquid account now sits $22.5 million in cumulative losses and more than $67 million below its peak equity, according to on-chain tracking.

A Pattern of High-Leverage Conviction

This marks Machi’s first major re-entry since a wave of forced liquidations in December wiped out several of his Ethereum longs.

Machi Big Brother is the crypto pseudonym of Jeffrey (Jeff) Huang, a high-profile trader, on-chain whale, and controversial figure in the crypto community.

Machi’s latest bet follows months of extreme risk-taking. In November and December, he built large ETH longs ranging from $20 million to more than $25 million in notional exposure, often using 15x to 25x leverage.

Those positions collapsed during ETH’s pullback from the $3,300 area.

Ethereum Price Sits at a Critical Level

Machi’s timing comes as Ethereum trades in a fragile zone.

ETH currently hovers around the $3,000–$3,100 range, after failing to break resistance near $3,300 earlier this month.

Over the past few weeks, price action has turned sideways as ETF outflows and fading Fed rate-cut expectations weigh on crypto markets.

At the same time, ETH supply on exchanges remains near multi-year lows, and staking continues to lock up large amounts of coins.

That creates a tight market structure, where sharp moves can happen quickly in either direction.

Still, sentiment remains cautious. Futures funding has turned negative at times, and on-chain data shows traders hedging rather than building fresh longs.

What Machi Is Really Betting On

Machi’s new position signals a high-conviction bet that Ethereum will hold above $3,000 and rebound toward the $3,300–$3,500 zone.

But his leverage leaves little margin for error. With less than $2 million backing a $34 million position, a single-digit percentage drop in ETH could trigger another liquidation.

For markets, his trade acts less as a bullish signal and more as a stress test of Ethereum’s current price floor.