So far, this whale/institution has sold a total of 837.8 BTC and bought 27,500 ETH ($69.68 million). The average purchase price for ETH was $2,534.
The full process: BTC on the Bitcoin chain (withdrawn from HTX a year and a half ago) was transferred to Hyperliquid → BTC was sold for USDC → USDC was withdrawn to Arbitrum and then bridged to Ethereum → ETH was bought on the Ethereum chain.
The full process: BTC on the Bitcoin chain (withdrawn from HTX a year and a half ago) was transferred to Hyperliquid → BTC was sold for USDC → USDC was withdrawn to Arbitrum and then bridged to Ethereum → ETH was bought on the Ethereum chain.