BIT-linked whale closes most BTC, ETH longs, realizes $48.19M profit

Three addresses linked to crypto financial services firm BIT (formerly Matrixport) have fully closed long positions totaling 1,150 BTC and 95,000 ETH, realizing a profit of $48.19 million, Onchain Lens reported. The addresses now only hold a 25x long position in ETH with an unrealized profit of approximately $8.12 million. The average entry price for this position is $2,012.11, with a liquidation price of $894.55.