On-chain data shows that the crypto whale known as "Machi Big Brother" has continued to reduce its Ethereum (ETH) long exposure. In the latest move, the address closed 300 ETH long contracts at an average price of $1,786. This exit price was below the overall average entry of $1,812 for the remaining position, indicating a willingness to realize a loss in order to control risk.
After the reduction, the whale still holds a substantial long position: opened at an average of $1,812, the ETH holdings amount to roughly 3,654 ETH, with a total value of approximately $6.62 million. The liquidation price for this position is set at $1,769, leaving a gap of only about $20 from the current market price. The buffer between the avg entry and the liquidation level is $43, but that cushion is rapidly thinning as the position now carries an unrealized loss of around $87,000.
At current levels, the whale is teetering on the edge: any slight dip in ETH price to $1,769 would instantly trigger a forced liquidation of the multi-million-dollar long bet. While the recent partial close has reduced overall leverage, the size of the remaining position remains extremely large, making $1,769 a critical line of defense for the address.