Bit Entity: $77M Loss on 120K ETH Long Position

Bit-linked entities added $8 million margin to their 120,000 ETH long position on Hyperliquid, now sitting on over $77 million in unrealized losses from an average entry near $2265.

Liquidation prices sit between $1059 and $1174 across the four addresses while more than 6 million USDC remains available as collateral, keeping immediate liquidation risk low despite the heavy drawdown. ETH price prediction models must now factor persistent bearish pressure as the pair trades inside Bollinger Bands with upper resistance at $1785 and lower support at $1582. With price testing the lower band while RSI at 35.81 shows neutral momentum and MACD registers a death cross at -28.58, a healthy retracement toward EMA50 support at $1697 appears probable before any continuation lower, directly pressuring leveraged long books like this one and raising crypto market crash concerns for overextended positions.