I just saw that Machi suffered a pretty brutal liquidation on his 25x leveraged long position in ETH. The market had a correction and boom, everything dropped to the floor. According to Onchain Lens, this trader's accumulated losses already exceed 29 million dollars, which is a pretty significant figure.

The interesting part is that despite the blow, Machi didn't stay still and has already opened a new 25x leveraged long position in ETH. Considering ETH is up 4.40% in the last 24 hours and hovers around 2.41K, it seems the trader is betting that the rebound will continue. I don't know if it's bravery or if he simply believes in the bullish movement the market is currently experiencing.

This is a reminder of how dangerous it can be to trade with such aggressive leverage. Machi clearly has confidence in his analysis, but the numbers don't lie: 29 million in accumulated losses is too much for anyone.