Machi Big Brother Holds $151 Million Long on Hyperliquid
On Hyperliquid, Machi Big Brother is leaning almost entirely on ETH gains, while BTC and HYPE lag behind. The position lines up with outflows from Bitcoin ETFs and inflows into Ethereum products.
Key Takeaways
- Machi Big Brother holds $151.17 million in leveraged long positions on Hyperliquid against an account value of $5.95 million.
- The biggest position is 39,800 ETH with 25x leverage; there are also 569 BTC with 40x leverage and 88,000 HYPE tokens with 10x leverage.
- Bitcoin and HYPE fell over the past week, while Ethereum rose 0.6% and delivered almost all of the unrealized $1.2 million gain.
Machi Big Brother holds $151.17 million (€130 million) in leveraged long positions on Hyperliquid, against an account value of $5.95 million (€5.1 million). All positions are pointed the same way, and Arkham sees no offsetting short exposure at all. Two of the three assets are now lower than they were a week ago, while Ethereum remains the only clear winner in the books.
Big Positions in ETH and BTC
The biggest position is Ethereum. Machi holds 39,800 ETH with 25x leverage, worth about $100 million (€86.3 million). His entry is around $2,480 (€2,140). Bitcoin comes next at $44.14 million (€38.1 million), split across 569 BTC with 40x leverage, the highest leverage in the book. The third position is Hyperliquid itself, with 88,000 HYPE tokens at 10x leverage worth $7.03 million (€6.1 million).
All three entry prices are roughly within 1% of current prices. The unrealized profit on the account comes to $1.2 million (€1 million). Of that, $1.21 million (€1 million) comes from the ETH position. Bitcoin is contributing only $35,630 (€30,700) within a $44.14 million (€38.1 million) position, while HYPE is actually down $49,650 (€42,800). On the tracked addresses, there is also just $0.55 (€0.47) in spot holdings; the rest of the account value is in perpetual futures.
Bitcoin and HYPE Slide Lower
Bitcoin has fallen 2.5% over the past week to around $77,548 (€66,900). HYPE lost 7.3% and is sitting around $79.86 (€69). Ethereum held up better and rose 0.6% on the week to $2,510 (€2,170). That means ETH is carrying almost all of the account's gains.
That move lines up with a week in which the broader market also got less support from institutional flows. Bitcoin ETFs saw $462.73 million (€399 million) in outflows in the week through September 11, after three straight weeks of inflows. Ethereum products pulled in $197.11 million (€170 million), marking a fourth straight week of inflows. HYPE funds lost $26.42 million (€22.8 million) over the same period, ending a streak of five positive weeks. That fits the broader pressure on demand for HYPE ETFs, which JPMorgan had already pointed to when inflows cooled in July and early August.
Why This Matters
Machi Big Brother's position shows how quickly heavily leveraged trading can become vulnerable when two of the three underlying assets pull back. For European crypto followers, the bigger point is that these kinds of large long positions are often especially sensitive to broader market conditions, like interest rate expectations around the Federal Reserve. The Fed meets on September 16, and higher rates usually make risky assets like crypto less attractive than safer alternatives.
