Machi Big Brother reduces Ethereum long position via NFT sales

High-profile trader Machi Big Brother has significantly reduced an Ethereum long position, cutting the exposure by more than 52% since mid-July. To fund the leveraged position and manage liquidity, the trader sold three Bored Ape NFTs at substantial losses.

Data indicates that the Ethereum long position, which was reported at 5,264 ETH on July 14, shrank to 2,500 ETH by August 14. While the position size decreased, the liquidation price rose to $1,859.15, leaving a narrow margin of approximately $22 above the market midpoint at the time of observation.

Specific NFT sales included Bored Ape #5715, which was sold for 8.3 ETH, representing a loss of roughly 25.87 ETH compared to its purchase price. These sales and small withdrawals from Binance suggest a move to maintain liquidity for the existing leveraged Ethereum position.