BTC-to-ETH rotation: tracked account reaches a reported 63,731 ETH
An October 22 on-chain analysis says a whale or institution sold another 246.2 BTC, valued at approximately $20.36 million, over the preceding day and bought 10,636 ETH. Since October 11, the account reportedly sold a cumulative 1,847.3 BTC over 11 days for 153 million USDC, then used the proceeds to purchase 63,731 ETH at an average price of approximately $2,400.
The latest daily activity is part of the cumulative rotation and should not be added again. The cumulative average is distinct from the execution price of the latest purchases. This updates the earlier rotation account with a larger reported total; it describes switching existing assets from BTC into ETH, not evidence of new fiat money entering crypto markets.
Reported: 10-22 01:32 UTC
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