"Machibig" is about to cut losses and clear out its BTC long position, with an estimated loss of $1.3 million on this trade.

BlockBeats News, September 8 - According to TradingBeats data, "Machi Big Brother" Huang Licheng is about to liquidate his 40x BTC long position, which now holds only 23 BTC remaining.

Notably, "Machi's" unrealized profit on this long trade peaked at $1.6985 million on September 4. At that time, he held approximately 553 BTC with an average entry price of around $79,196.5, while BTC's hourly high reached approximately $82,268.

His current round of BTC long trading has incurred losses of approximately $1.0371 million, with cumulative trading fees paid of about $167,800 and funding costs of approximately $79,900. If all positions were closed now, the entire round is expected to conclude with a loss of roughly $1.308 million.

Notably, while cutting losses on his BTC long position, Machi has been consistently adding to his HYPE position. His HYPE long position has increased to 212,000 tokens, with a net increase of approximately 96,500 tokens over the past day, corresponding to a new notional value of about $8.1 million at current prices. The address currently holds approximately $17.77 million in HYPE longs with 10x leverage, an average entry price of around $87.37, and an current unrealized loss of approximately $749,800. His recent additions have been concentrated in the $86.5 range and the $83.4 to $83.9 range.