thecryptobasic.com
Prominent crypto trader Jeffrey Huang, better known as Machi Big Brother, has made a daring comeback to the Ethereum market despite widespread volatility.
Huang reopened a 25x leveraged long position on 100 ETH, valued at roughly $364,240, with only $16,771 in perpetual equity, a sign of his continued bullish stance even after recent heavy losses.
High Leverage, High Risk
According to on-chain data, Huang entered his position at $3,641.90 per ETH. With Ethereum currently trading near $3,490, the trader is facing an unrealized loss of around $4,958. His liquidation price is set at $3,462.85, meaning a minor market dip could trigger a complete wipeout of the position.
Following the October 11 market crash, Huang reportedly injected $1.73 million to sustain his long positions. However, his remaining equity has since shrunk to just $16,771, a massive depletion of his trading capital.
Marketwide Selloff Shakes Traders
The broader crypto market is enduring a steep correction. Bitcoin has fallen below $105,000, trading around $104,511, a 3% decline over the last 24 hours. Ethereum has dropped 6.3% in the same period, hovering near $3,490.
This sharp pullback has triggered a series of forced liquidations across exchanges as leveraged traders struggle to maintain positions.
According to Coinglass data, a total of 331,903 traders were liquidated in the past 24 hours, with combined losses exceeding $1.33 billion. In particular, long traders suffered most, losing $1.19 billion, while short traders faced losses of about $142 million.
The largest single liquidation occurred on Huobi, where a BTCUSDT position worth $47.87 million was wiped out.
Analysts Eye Critical Support Levels
Crypto analyst Ali Martinez, referencing data from Glassnode, identified $3,120 as a critical demand zone for Ethereum. Around 2.62 million ETH were accumulated near that level.
$3,120 is the key demand zone for Ethereum, where 2.62 million $ETH were accumulated. pic.twitter.com/1GEupLeYN7
— Ali (@ali_charts) November 1, 2025
Furthermore, he noted that below $2,950, the next major support levels for Ethereum lie at $2,870 and $2,530. These zones, Martinez suggested, could determine whether Ethereum stabilizes or faces further downside pressure.