$ETH Whale "U-Turns," Sells Bitcoin to Buy Ethereum – Betting $8.7 Million on an ETH Comeback?
A notable capital flow signal has just appeared on-chain, as a large investor decided to part ways with Bitcoin to accumulate Ethereum, despite volatile market trends.
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Perp
1,968.25
-0.38%
BTCUSDT
Perp
67,847.9
-1.36%
🔸 A whale wallet executed a strong capital rotation strategy. This whale spent a total of 129 $BTC , worth approximately $8.72 million USD, to exchange for 4,412 ETH. The average purchase price recorded was $1,976 USD per ETH. This is considered an attractive zone for longterm accumulation.
🔸 Not stopping at previous orders, this whale continued to increase their position today. The whale spent an additional 43 BTC, equivalent to $2.91 million USD, just today to purchase 1,468 $ETH
.
🔸 All the purchased ETH has now been safely transferred to a new wallet address, indicating an intention for long-term holding rather than short-term trading.
The move to sell BTC and buy ETH typically signals a belief that Ethereum will outperform Bitcoin in the coming period. In your opinion, at the price of $1,976, did this whale catch the bottom correctly or jump the gun?
News is for reference, not investment advice. Please read carefully before making a decision.