Bit Entity Trims 40k ETH for $9.897M Gain Before Scaling Back In

A significant entity linked to Bit has made substantial adjustments to its Ethereum holdings. The entity trimmed 40,000 ETH at $2513 for a realized gain of approximately $9.897 million this morning before scaling back in with 9,021 ETH purchased and limit orders for another 10,000. This brings the combined total of three addresses to 59,000 ETH long position, showing over $8.73 million in floating profit.

Over the past six months, these same addresses have maintained a consistent bullish stance on Ethereum through multiple pullbacks, holding onto 120,000 ETH. As the price tests upper Bollinger resistance at $2610.86, the Relative Strength Index (RSI) flashes overbought at 75.27.

A healthy retracement to the 50-EMA support at $2143.74 seems probable before further continuation as the MACD death cross at 121.86 signals near-term momentum loss inside the lower band.