Odaily Planet Daily reports: The BIT-affiliated address (0xa5...1d41) has initiated profit-taking, selling 14,000 ETH five minutes ago, closing a long position worth approximately $34.15 million. The address currently holds a remaining position of about $25.24 million, with an average entry price of $2,340.86 per ETH, yielding an unrealized profit of approximately $1.83 million. This address has repeatedly received fund transfers from Matrixport (now rebranded as BIT) and is currently the largest on-chain ETH long position, alongside two associated addresses that coordinated positions, with this being the primary address.
BIT-linked address liquidates $34.15M long ETH position
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Summary
A BIT-linked address (0xa5...1d41) recently executed a partial liquidation of its long ETH position, selling 14,000 ETH worth approximately $34.15 million. The address still holds a position valued at $25.24 million, with an average entry price of $2,340.86 and a floating profit of $1.83 million. The address has received multiple transfers from Matrixport (now BIT) and is currently the largest on-chain holder of ETH long positions. Position trading strategies appear to be in effect, with careful position sizing evident in the partial exit and remaining exposure.
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