Lookonchain
Machi (@machibigbrother) has lifted his leveraged long book to roughly $131 million as crypto pushes higher, with the bulk of the exposure concentrated in Ethereum. The high-profile on-chain trader now holds 32,600 ETH worth $85.73 million, alongside 495 BTC valued at $40.26 million and a smaller 55,500 HYPE leg at $5.06 million.
Why it matters
Whale-level leveraged positioning is one of the cleanest real-time sentiment signals in crypto, and Machi's perps are tracked closely because he broadcasts positions publicly and trades in size. Adding to a leveraged long book during a market advance, rather than trimming into strength, is a directional bet that the rally extends. The mix itself is telling: ETH dominates at roughly two-thirds of the notional, with BTC as a secondary bid and a smaller Hyperliquid-native HYPE allocation.
Market impact
The liquidation cluster is the part to watch. ETH liquidations sit at $2,517, BTC at $73,501, and HYPE at $18.7, all materially below current spot. That structure gives the position room to absorb volatility before forced selling kicks in, but it also concentrates risk in a broader market reversal. A flush through those levels would put roughly $131 million of long exposure on the auction block.
Source: [HypurrScan Beta](https://hypurrscan.io/address/0x020ca66c30bec2c4fe3861a94e4db4a498a35872#perps)
Frequently asked questions
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Who is Machi and why does his positioning matter?
Machi (@machibigbrother) is a high-profile on-chain trader who broadcasts his leveraged perps positions publicly. His trades are tracked closely because of the size and frequency of his moves.
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What are Machi's current liquidation prices?
His ETH liquidation sits at $2,517, BTC at $73,501, and HYPE at $18.7, all materially below current spot. That structure gives the position room to absorb volatility before forced selling kicks in.
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What does a $131M leveraged long book signal for the market?
Adding to longs during a market advance, rather than trimming into strength, is a directional bet that the rally extends. It is one of the cleanest real-time sentiment signals because the position is publicly visible on-chain.
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Why is HYPE in the mix and what is Hyperliquid?
HYPE is the native token of Hyperliquid, the perpetuals exchange where Machi holds these positions. The data behind the trade is sourced from Hypurrscan, the chain's on-chain analytics tool.
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What would invalidate the bullish thesis on these positions?
A market flush through the liquidation cluster (ETH $2,517, BTC $73,501, HYPE $18.7) would put roughly $131M of long exposure on the auction block, amplifying any move lower.
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