The net worth of 5.95 million is leveraged by 150 million, and ETH is the sole source of profit

According to WooFunai, MachiBigBrother, the giant whale on the Hyperliquid platform, is exposed to extreme leverage risk: its net account value is only $5.95 million, yet it maintains a leveraged long position of up to US$151.7 million without any hedged bears.

According to data compiled by WooFunai, the account's profit structure is extremely dependent on a single asset. Machi held 39,800 ETH and built a position worth 100 million US dollars with 25 times leverage, contributing a profit of about $1.21 million; in comparison, 569 BTC (40 times leverage, worth $44.14 million) only made a profit of $35,630, while 88,000 HYPE (10 times leverage, worth $7.03 million) lost $49,650.

Although all three entry price differences were within 1%, and the total unrealized profit of the account was $1.2 million, the spot position was only $0.55, and the risk was entirely concentrated on perpetual contracts.

The fragmentation of market capital flows has exacerbated this vulnerability. Over the past week, BTC fell 2.5% to $77,548, HYPE fell 7.3% to $79.86, and only ETH rose slightly by 0.6% to $2,510.

Although HYPE, ETH, and BTC rose 41.5%, 33.6%, and 23.2% respectively in the past 30 days, BTCETF outflows ended three consecutive weeks of net inflows in the week ending September 11. HYPE funds lost $26.42 million to break five consecutive weeks of positive inflows. Only ETH attracted net inflows of US$197.1 million, continuing the net inflow trend in the fourth week.

As the Federal Reserve meeting on September 16 approaches, the probability of interest rate hikes is high, and traditional macroeconomic pressure is being transmitted to the crypto market. Interest rate hikes usually suppress risky assets. This will directly test Machi's resilience to risk in highly leveraged BTC and Hype positions, and its weak net worth structure faces serious challenges in potential market pullbacks.