Jeffrey Huang, known as Machi Big Brother, reopened a $34 million leveraged long position on Ethereum despite substantial prior losses on Hyperliquid. Currently, Ethereum trades near critical support around $3,000 to $3,100 after failing to break through $3,300, with market sentiment remaining cautious. Machi's highly leveraged bet tests the robustness of Ethereum's price floor but carries significant liquidation risk due to thin collateral backing.

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