Bit Entity Amasses $323M in ETH and BTC Long Positions

Bit-linked entities have accumulated significant long positions in ETH and BTC, totaling $323 million. These entities now hold 65,977.9684 ETH valued at $165 million and 2,000 BTC worth $158 million. This accumulation has resulted in substantial floating profits, with the group generating $41.95 million.

The entities also have a history of profit-taking, with one wallet closing out 40,000 ETH at $2513 for a realized gain of $9.897 million. Fresh accumulation has resumed through a hyperbot.network trader, pushing three addresses to 59,000 ETH longs with open gains totaling $8.73 million.

The current price action at $2513.11 is testing the upper Bollinger Band resistance of $2524.51. Technical indicators suggest that a measured retracement toward the EMA50 support at $2259.36 appears probable before any continuation higher, consistent with prior whale behavior around these levels.