A small pullback in ETH has basically wiped out the profits that Machi made from rolling over his long ETH position this time. Now the ETH price is only $42 dollars away from his liquidation price. This time he used $50 million in funds, starting to roll over long ETH from $2,840. When ETH rose to $3,200 the day before yesterday, the $50 million became $334 million. Rolling over amplified his gains, but it also raised his liquidation price to $3,000. As a result, early this morning...
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A small pullback in ETH has basically wiped out the profits that Machi made from rolling over his long ETH position this time. Now the ETH price is only $42 dollars away from his liquidation price. This time he used $50 million in funds, starting to roll over long ETH from $2,840. When ETH rose to $3,200 the day before yesterday, the $50 million became $334 million. Rolling over amplified his gains, but it also raised his liquidation price to $3,000. As a result, early this morning...