Machi’s Account Balance Falls to $129K as He Keeps Closing Positions to Avoid Liquidation

This is less a story about one trader than about the mechanics of forced deleveraging in a falling market. The steady unwind of positions to avoid liquidation is the visible end of a process that can feed on itself: selling to meet margin calls adds pressure, which triggers more of the same elsewhere. What matters for the wider market is whether this remains isolated to individual leveraged accounts or becomes a broader pattern. Whether the deleveraging wave spreads or exhausts itself is the open question.