Machi Big Brother’s Bold ETH Bet: Loss, Irony, Fate

In the cold January wind, Machi Big Brother returns to the arena of Ethereum with a gesture both audacious and fated. On the twelfth day, this celebrated whale reopened a leveraged long of thirty-four million dollars upon Hyperliquid, as though fortune herself were a debtor and he her broker 😂.

Yet fortune, that fickle mistress, turned her gaze with a dry smile. Almost at once the balance shifted, and within hours the trade lay down by roughly $325,000, as if the ledger would rather whisper misfortune than sing victory. But the larger tragedy, the one that weights the scales of men’s souls, is found in the ledger itself: his Hyperliquid account now sits $22.5 million in cumulative losses and more than $67 million below its peak equity, a mountain of numbers that makes a man pause and wonder at the arithmetic of risk 🤔.

MACHI BIG BROTHER IS BACK

Machi is back, and he’s relonged $34M of ETH with less than $2M in total collateral. His HL account is down $22.5M all time, and over $67M from its peak!

He’s currently down $325K on this trade. Will he make it back this time?

– Arkham (@arkham) January 12, 2026

A Pattern of High-Leverage Conviction

This moment marks Machi’s first major re-entry since a wave of forced liquidations in December swept away several of his Ethereum longs, leaving the halls of his fortune a little emptier and the coffee a touch sweeter with irony 😅.

Machi Big Brother is the crypto pseudonym of Jeffrey (Jeff) Huang, a figure who strides through on-chain waters like a captain who knows the waves yet forgets the shore, one who is both watched with awe and questioned with a squint of skepticism in the crypto salons.

Machi’s latest gambit follows months of perilous appetite. In November and December he raised large ETH longs, ranging from $20 million to more than $25 million in notional exposure, often with leverage between 15x and 25x, as a man might push his chair closer to the edge of a precipice and declare with a shrug that the view is worth the risk. 😏

Those positions toppled when ETH retreated from the $3,300 region, as if a tempest had swept through a tranquil room.

Ethereum Price Sits at a Critical Level

Machi’s timing sits upon a fragile cliff, where the ground below sighs with the weight of history and the wind of speculation. 🧭

ETH hovers in the rough embrace of the $3,000-$3,100 corridor, after failing to breach the stubborn ramp near $3,300 earlier this month. The last weeks have seen price action drift sideways as ETF outflows and fading Fed rate-cut dreams shadow the markets.

Meanwhile, ETH supply on exchanges remains near multi-year lows, and staking continues to lock up large tracts of coins. This creates a theatre of tight market structure, wherein a single gust may lift or drop the curtain with alacrity.

Yet sentiment remains cautious, as futures funding flickers negative at moments, and on-chain data speaks of hedging more than fresh long buys. A quiet storm may be brewing, or merely a polite sigh of restraint 🤷‍♂️.

What Machi Is Really Betting On

Machi’s new position speaks of a stubborn conviction that Ethereum will hold above the $3,000 mark and rise again toward the $3,300-$3,500 realm, a horizon many see as a mirage with a gleam. 😂

But his leverage leaves little margin for error. With less than $2 million backing a $34 million position, even a modest dip in ETH could kindle another liquidation, like a spark in a dry field.

For the markets, this trade reads less as a bullish omen and more as a stress test of Ethereum’s current price floor, a mirror held up to how much the crowd trusts the old stones when the river runs high.

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2026-01-13 01:02