According to data shared by on-chain analysis platform Lookonchain, a “Bitcoin whale” that has been inactive in the market for a long time has made a remarkable transaction again.
Bitcoin Whale Makes Huge Move: Sold 2,000 BTC and Bought 48,942 ETH
The whale in question sold 2,000 Bitcoins (approximately $215 million) and purchased 48,942 Ethereum (ETH) for the same value in the last four hours.
According to the data, this investor stands out not only with his recent moves but also with his long-standing strategic acquisitions.
The whale has reportedly accumulated a total of 886,400 ETH to date, reaching a market capitalization of $4.07 billion. This amount is among the highest wallet balances among individual investors in the Ethereum ecosystem.
Whale activity in cryptocurrency markets is considered a key indicator of price direction. Experts believe this whale’s accelerated Bitcoin sales and shift to Ethereum indicate that ETH is becoming increasingly prominent in investment strategies.
In particular, increasing institutional interest in spot ETH ETFs and record increases in transaction volume on the network may be the reason for this preference.
Market analysts say that purchases of this scale could provide support to the Ethereum price in the medium term, but could also increase selling pressure on Bitcoin.
The new moves the whale will make in the coming days are among the main developments that investors will closely follow.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/long-inactive-bitcoin-whale-sells-btc-and-buys-large-volumes-of-ethereum-here-are-the-details/
