Machi's ETH leverage on this trade is quite full, with the liquidation price pinned tightly. Is it really "fortune favors the bold"?

ETH1.66%
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CoinNetwork
Coin World News: Machi Huang Licheng increased his long position in ETH by 800 coins, approximately $1,376,640.00. Current position size is $3,246,600.00, average price rose from $1,578.66 to $1,590.95, current profit/loss is +$64,681.23 (+49.81%), current coin price is $1,623.29, liquidation price is $1,589.04. The trader previously profited from blue-chip NFTs, but has experienced a massive drawdown since October, with funds shrinking from over a hundred million to hundreds of thousands of dollars.
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