ETH pullback causes significant loss of profits from Ma Ji's rolling position, exacerbating liquidation risks

A small pullback in ETH has basically put back the profit from Ma Ji's long position in ETH. The current ETH price is only $42 away from his position clearing price. He used $500000 to roll over ETH starting from $2840. When ETH rose to $3200 the day before yesterday, $500000 became $3.34 million. Rolling the position increased his earnings while also raising the liquidation price of his position to $3000. As a result, ETH experienced a pullback below $3000 early this morning, and his position was liquidated twice. His position value has fallen from $3.34 million to $7.3 million now, and the profit from this long position has basically been swallowed up. The remaining position is only $42 away from the liquidation price. (Ashes)