On-chain analyst Ember monitored on October 22 (UTC+8): A whale/institution sold another 246.2 $BTC over the past day, worth about $20.36 million, and bought 10,636 $ETH .
Since October 11, this has been a continuous series of transactions. Over 11 days, they sold a total of 1,847.3 BTC, first converting it into about 153 million USDC, then buying 63,731 ETH at an average price of roughly $2,400. Looking just at the numbers, they have been reducing their Bitcoin holdings while increasing their Ethereum holdings. The moves have played out over a relatively long period—not just a one- or two-day trial.
The fund flow is also clear: BTC withdrawn from HTX a year and a half ago was sold for USDC on Hyperliquid; the USDC was withdrawn to Arbitrum, then bridged to Ethereum to buy ETH. The short-term strategy of selling BTC for ETH is still underway, and the portfolio rebalancing has not stopped. Over nearly two weeks, the whale has moved a substantial position from Bitcoin to Ethereum.
#BTC #ETH #巨鲸 does not constitute investment advice.
Since October 11, this has been a continuous series of transactions. Over 11 days, they sold a total of 1,847.3 BTC, first converting it into about 153 million USDC, then buying 63,731 ETH at an average price of roughly $2,400. Looking just at the numbers, they have been reducing their Bitcoin holdings while increasing their Ethereum holdings. The moves have played out over a relatively long period—not just a one- or two-day trial.
The fund flow is also clear: BTC withdrawn from HTX a year and a half ago was sold for USDC on Hyperliquid; the USDC was withdrawn to Arbitrum, then bridged to Ethereum to buy ETH. The short-term strategy of selling BTC for ETH is still underway, and the portfolio rebalancing has not stopped. Over nearly two weeks, the whale has moved a substantial position from Bitcoin to Ethereum.
#BTC #ETH #巨鲸 does not constitute investment advice.