BIT-linked wallets exit $419M ETH and BTC longs, locking in $55.1M profit

AI Market Summary

A cluster of 11 Bit-linked addresses reportedly closed $419M of BTC and ETH long exposure, crystallizing ~$55.1M in profits. The de-risking and profit-taking signal reduced marginal long positioning and can raise short-term volatility, particularly in ETH where only one address remains long (~1,602 ETH). While not a macro catalyst, the scale suggests meaningful flow-driven impact on near-term market microstructure.

Impact level

● Medium

Affected assets

ETH/USDT-1.27%

AI Insight · ETH/USDTAI Insight

● Neutral

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Ai Yi monitoring shows 11 addresses tied to Bit have fully closed ETH and BTC long positions worth a combined $419 million, realizing profits of $55.095 million. One wallet, 0xf78…6c581, still holds a long position of 1,602.11 ETH valued at about $3.97 million, with unrealized gains of roughly $707,000.

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