Machi Big Brother Holds $150M Leveraged Position on Hyperliquid

A trader known as Machi Big Brother has $151.17 million in leveraged long positions on Hyperliquid against an account worth $5.95 million. All of the positions are aligned in one direction.

Information from Arkham indicates no short positions have been opened to offset the longs. Over the past week, two of the three assets have declined.

$151 Million in Long Positions Across Three Assets

The most significant position is in Ethereum (ETH). Machi holds 39,800 ETH at 25x leverage, with a value of $100 million, as reported by Arkham. His entry price is approximately $2,480.

Bitcoin (BTC) is next at $44.14 million. This represents 569 BTC at 40x leverage, the highest level of leverage in the portfolio. The third position is Hyperliquid (HYPE). He is holding 88,000 tokens at 10x leverage, worth $7.03 million.

All three entry prices are within about 1% of current levels. The total unrealized profit across the account stands at $1.2 million. The Ethereum leg contributes $1.21 million of that amount.

Bitcoin yields only $35,630 on a $44.14 million position. Meanwhile, HYPE is down $49,650. Spot holdings on monitored addresses are $0.55. The remainder of the account value is in perpetual futures.

Two Out of Three Assets Are Moving Against the Position

Two of the three assets are already declining. Bitcoin has dropped 2.5% to around $77,548, while HYPE has fallen 7.3% to $79.86.

Only Ethereum held its ground. It is trading at $2,510 and rose 0.6% for the week, which accounts for nearly all of the profit.

The downturn comes after a strong rally. Over the past 30 days, HYPE has still increased by 41.5%, Ethereum by 33.6%, and Bitcoin by 23.2%.

Institutional flows shifted in the same week. Bitcoin exchange-traded funds (ETFs) lost $462.73 million in the week ending September 11, ending a three-week streak of inflows.

HYPE funds shed $26.42 million over the same period, breaking a five-week positive run. Ethereum products attracted $197.11 million in inflows, marking a fourth straight weekly inflow.

Ethereum is supporting the entire portfolio. Bitcoin and HYPE have both declined, and the Federal Reserve is scheduled to meet on September 16 with a high probability of a rate increase.

Higher interest rates usually put pressure on risk assets, which would challenge the two positions where Machi has heavy leverage.