Machi Loses $20M in 25x ETH Liquidations Amid Volatility
On November 21, 2025, singer and crypto investor Huang Licheng (Machi) faced partial ETH liquidation on a 25x leveraged Ethereum long position tracked by Onchain Lens. Amid ongoing market volatility, Machi incurred a cumulative loss of over $20.18 million and proactively reduced his ETH exposure. This ETH liquidation underscores the risks of high leverage in the crypto market and highlights the importance of robust risk management for traders.
Bearish
The high-profile partial liquidation of Machi’s 25x leveraged ETH position signals intensified selling pressure and heightened volatility in Ethereum markets. In the short term, forced liquidations may trigger additional sell-offs and price declines. Although long-term Ethereum fundamentals remain intact, trader sentiment is likely to stay cautious, making the overall impact bearish.