Are mining magnates starting to buy high and sell low too?
Over two days, F2Pool co-founder Wang Chun swapped 235 WBTC for 7,848 ETH, then withdrew 5,173 ETH from Binance at an average price of 2,485, dumping a total of $32 million. The ETH/BTC exchange rate slid from 0.032 to 0.030, and the big player kept rotating into ETH as it fell.
He’s still swapping at new exchange-rate lows. Either he’s seen something we haven’t, or his position is losing more than we think.
ETH/BTC traders, are you brave enough to add to your positions at 0.03, or are you preparing to cut your losses and switch back to Bitcoin?
$ETH $BTC $WBTC
Over two days, F2Pool co-founder Wang Chun swapped 235 WBTC for 7,848 ETH, then withdrew 5,173 ETH from Binance at an average price of 2,485, dumping a total of $32 million. The ETH/BTC exchange rate slid from 0.032 to 0.030, and the big player kept rotating into ETH as it fell.
He’s still swapping at new exchange-rate lows. Either he’s seen something we haven’t, or his position is losing more than we think.
ETH/BTC traders, are you brave enough to add to your positions at 0.03, or are you preparing to cut your losses and switch back to Bitcoin?
$ETH $BTC $WBTC