Several long-term Bitcoin whales have been reallocating their holdings into Ethereum, signaling a shift in major crypto investment strategies
Several long-term Bitcoin whales have been reallocating their holdings into Ethereum, signaling a shift in major crypto investment strategies. One Satoshi-era Bitcoin whale moved 6,000 BTC valued at approximately $689.5 million to purchase Ethereum, accumulating a total of 278,490 ETH worth $1.28 billion at an average price of $4,585, along with an additional 135,265 ETH position valued at $581 million. Another whale holding 1,276 BTC ($147 million) sold on Hyperliquid to buy Ethereum. Two original whales who sold Bitcoin to acquire Ethereum have recently staked 275,500 ETH, worth about $1.3 billion. Meanwhile, whales have been active on the Hyperliquid platform, depositing millions of USDC to take long positions in BTC, BNB, ETH, and other altcoins. Market sentiment is building around Ethereum potentially breaking the $5,000 price level, which could trigger the liquidation of $1.65 billion to $2.2 billion in ETH shorts. This liquidation event is expected to drive a strong upward momentum in Ethereum’s price, with some investors anticipating a rise toward $10,000 per ETH.
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Source: https://thedefiant.io/news/markets/bitcoin-whales-move-6000-btc-to-buy-stake-275500-eth-worth-1-3b-1-65b-2-2b-eth-2edd8df4
