Machi Big Brother opens $86M leveraged BTC and ETH long

Onchain data from Arkham Intelligence shows the trader known as Machi Big Brother opened a combined $86 million leveraged long across bitcoin and ethereum. The position holds $44.2 million in bitcoin, equivalent to 570 BTC at 40x leverage with a liquidation price of $74,111, and $41.8 million in ethereum, equivalent to 18,050 ETH at 25x leverage with a liquidation price of $2,206.50.

Both legs use a shared cross margin backed by about $2.78 million in collateral. Because the positions share margin, losses on one asset can reduce available collateral for the other. Terminal-level data indicates the liquidation thresholds are tight given the high leverage and the relatively small margin base.

At the time the positions opened, bitcoin traded near $79,000 on the opening day of the Bitcoin 2026 conference in Las Vegas and the total crypto market capitalization was around $2.67 trillion. The bitcoin liquidation price of $74,111 sits below its trading price, while the ethereum liquidation level is roughly $100 below ethereum’s mark price.

Nordic brokerage K33 has identified $80,000 as a resistance zone that aligns with the short-term holder realized price, a level where newer participants have tended to sell into strength. Ethereum traded near $2,328, the same price it held on April 27, 2021, a date noted by onchain analysts tracking market cycles and positioning.

Arkham’s records show Machi Big Brother recorded $73.44 million in trading losses over the six months before opening the $86 million position. The combined long ranks among the largest active long bets visible on onchain platforms, and the trade is observable to market participants because onchain activity is transparent.