BIT-Linked Wallets Realize $55M Profit After Closing $419M in BTC, ETH Longs

BitcoinWorld BIT-Linked Wallets Realize $55M Profit After Closing $419M in BTC, ETH Longs Eleven wallet addresses associated with the crypto options trading platform BIT, formerly known as Matrixport, have closed out a combined $419 million in long positions across Bitcoin and Ethereum, locking in approximately $55.1 million in realized profit, according to on-chain data shared by analyst ai_9684xtpa.

Details of the Position Closures The closures, which occurred over a recent period, involved a mix of BTC and ETH longs.

While the bulk of the positions have been fully closed, one long position remains open: address 0xf78 still holds 1,602.11 ETH, valued at around $3.97 million, with an unrealized profit of $707,000.

This move by BIT-linked wallets comes amid a period of heightened volatility in the cryptocurrency market, where large institutional players and trading desks often adjust their exposure to manage risk or take profits after significant price movements.