Trader 'machi' loses $11.3M on 20x ETH long
- —Account grew from $15K to $12.3M as ETH rose from $1,900 to $2,500
- —September consolidation in the $2,400–2,600 range triggered a series of stop-outs
- —Current drawdown: from $12.3M to $1M
- —Another $50–100 drop in ETH could liquidate the remaining position
Why it matters: The case shows how fragile a high-leverage long is in a sideways market: even without a sharp ETH decline, the account loses 92%.
Source: PANews