Big news in the cryptocurrency world! A veteran player who has held Bitcoin for seven years suddenly changes sides! What caused this?
Today, they sold 550 Bitcoins for $BTC , then turned around and opened a long position of $282 million for $ETH at the Hyperliquid exchange, directly causing the Bitcoin price to flash drop by 2%.
A seven-year loyal supporter suddenly turns, there must be deeper meaning behind it. Instead of converting to stablecoins, they leveraged their bet on Ethereum and returned to the mainnet, clearly indicating a strategic bet with immense confidence.
Hyperliquid showed vulnerability this time. Despite reaching a record high in trading volume in July, it couldn't handle such large orders, raising questions about the capability of decentralized exchanges to support institutional trading.
The market direction has changed; ETH is seeing significant capital inflows while BTC funds are bleeding. Institutions are starting to reassess their positions, and the price-performance ratio of these two assets may need to be reevaluated. This operation is likely to trigger a chain reaction, with big players leading the shift, increasing short-term pressure on Bitcoin, which will also affect altcoins. Retail investors need to closely monitor capital flows, adjust their positions accordingly, and not wait until the hot opportunities are gone to take action.
Ultimately, this is not just a personal choice but rather a signal of structural change in the cryptocurrency space. Whether BTC's throne remains stable and if ETH can take over will depend on how more capital votes with their feet.
The market is continuously changing, and we are closely monitoring it to seize new entry opportunities. Like + comment, let's navigate through the bull market together and grasp this major opportunity in this round.
