The prominent cryptocurrency investor Jeffrey Huang, known as Machi Big Brother, has expanded his Ethereum (ETH) futures position to $13 million despite suffering roughly $33 million in losses earlier this month. On May 28, 2026, reports confirmed that Huang increased his 25x leveraged long position on the decentralized exchange HyperLiquid to 6,325 ETH. As part of this aggressive strategy, the Taiwanese celebrity deposited an additional $287,913 USDC into the protocol to reinforce his standing as the asset struggles to reclaim higher price levels.
The move follows a volatile period on May 23, 2026, when earlier high-leverage positions held by Huang were partially liquidated. While the trader voluntarily closed a majority of those trades, the exchange forcibly liquidated a portion as market conditions shifted. These events contributed to an estimated loss of $33 million, reportedly leaving Huang with a remaining balance of approximately 1,700 ETH at the time. Despite these setbacks, the whale’s recent activity signals a persistent bullish outlook on Ethereum’s recovery.
Huang is a recurring figure in high-risk DeFi trading, having faced over 250 liquidations since 2025 with total losses over the last six months estimated at $75 million. com/ethereum-recovery-outlook-wedge-breakdown-analysis-2026/”>Ethereum recovery outlook remains pressured by technical resistance. By deploying a 25x lever, Huang is operating with a razor-thin buffer.
9% below his entry level.
Binance data shows dominant long sentiment among top traders
Jeffrey Huang’s bullish stance appears to align with the broader sentiment found among high-volume traders on other major platforms. On the Binance exchange, long accounts currently represent 78.38% of total trader positioning, while short accounts account for only 21.62%. This imbalance has pushed the Long/Short Ratio to 3.63, suggesting that many participants are still anticipating an upside continuation rather than preparing for a deeper correction.
However, crowded long positions often invite volatility-driven liquidations if the price fails to break through overhead resistance. This trend is particularly relevant as Ethereum navigates key support zones while institutional flows fluctuate. Market participants are closely watching whether these leveraged positions can withstand sharp price swings or if they will trigger a cascade of forced sales.
Funding rates remain positive as speculators pay premiums
The cost of maintaining these bullish bets remains high. Funding rates for Ethereum perpetual markets were reported at 0.0162, remaining firmly in positive territory. Additionally, this metric has climbed by more than 55%, reflecting a growing willingness among traders to pay premiums to short-sellers to keep their long exposure active. Such elevated rates typically occur when speculative confidence is high, even if the underlying price structure appears uncertain.
While these positive rates indicate conviction, they also suggest that the market is heavily weighted toward one side. If price momentum stalls or reverses, the pressure from these high funding costs and the risk of crypto market liquidations could lead to intensified selling. On May 28, 2026, ETH was reported at a price of $2,015.16, hovering near the critical $2,036 support level that has defended the asset against further declines throughout recent sessions.
Resistance at $2,419 cap Ethereum price gains
Technically, Ethereum is caught in a consolidation phase between the $2,036 floor and the $2,419 resistance zone. Though buyers have successfully defended the lower support, sellers have so far prevented a move above the higher recovery levels. The Directional Movement Index (DMI) currently reflects bearish control, with the ADX near 30 and the negative indicator (-DI) at 25.58, significantly higher than the positive indicator (+DI) of 9.98.
This technical structure suggests that despite the $13 million bet from Huang and the optimism on Binance, the trend strength still favors the sell-side for now. With a market cap of $243 billion and a 24-hour trading volume of $6.4 billion, the network’s liquidity is substantial, yet the leverage employed by individual whales remains a high-stakes gamble. If ETH can reclaim the $2,419 resistance, market sentiment may shift, but the immediate path remains contested.