Bitcoin Whale Sells $76 Million in BTC to Acquire Ethereum

On-chain analytics platform Lookonchain reported a significant move by a long-term Bitcoin whale who sold $76 million worth of BTC to buy Ethereum amid a market pullback.

Key Actions of the Bitcoin Whale

Sold 670.1 BTC ($76 million) and opened long positions of 68,130 ETH ($295 million).
Originally acquired 14,837 BTC for $107.5 million seven years ago.
Closed long positions and bought 19,794 ETH ($85 million) after depositing an additional 1,000 BTC ($113.95 million) into Hyperliquid.
Created a new wallet to deposit $20 million USDC for leveraged trading on ETH, totaling 78,265 ETH ($334 million).

Recent Trading Activities

Over two days, the whale sold 3,142 BTC ($356.47 million) and purchased 55,039 ETH ($237 million).
Opened a long position of 135,265 ETH ($577 million), with three out of five positions currently in profit.
A second whale, potentially linked to the first, deposited BTC into Hyperliquid to buy ETH, having received 85,947 BTC ($547 million) seven years ago.
Another whale recently withdrew 11,950 ETH ($51.32 million) from Binance.

The current price of Ethereum is approximately $4,280, reflecting a decline over the last 24 hours.