A significant move occurred in the cryptocurrency market as a notable Bitcoin whale sold part of its holdings and invested in Ethereum.
Whale Sells Bitcoin
The Bitcoin whale, known for holding without selling for a long time, finally decided to part with some of its stash. According to Lookonchain, this wallet had not touched coins bought seven years ago via Binance and HTX. Out of its 14,837 BTC holdings, the whale sold 670.1 BTC, worth around $76 million.
Bet on Ethereum
Rather than cashing out, the whale funneled the proceeds into Ethereum. Data shows the whale opened a massive long position worth 68,130 ETH (approximately $295 million). The entries came at around the $4,300 level and were spread across four wallets, leveraged at 10x—an extremely aggressive bet on ETH's next move.
Market and Other Whales
While this whale rotated from Bitcoin into Ethereum, other whales reacted differently. Three separate whales panic-sold ETH during the correction, unloading 17,972 ETH ($77.4 million), 13,521 ETH ($57.72 million), and 3,003 ETH ($12.89 million). This contrasting whale activity underscores just how divided sentiment is in the current market.
This event illustrates the varying strategies and sentiments of participants in the cryptocurrency market, where some players are betting on growth, while others prefer to reduce risks.
