Ancient Bitcoin whale continues to shift to Ethereum

According to data from Lookonchain, an 'ancient' Bitcoin whale has just sent an additional 300 BTC (equivalent to 34.78 million USD) to the Hyperliquid exchange, a move that may signal the continued shift of capital towards ETH.

In just 3 days, this address has recorded 84 million USD in unrealized profits from ETH positions:

• 135,265 ETH (worth 581 million USD) in a long position, average entry price 4,295 USD, currently net profit 49 million USD.

• 100,979 ETH (worth 435 million USD) bought spot at an average price of 4,309 USD, currently net profit 35 million USD.

This move continues to reinforce the view that large capital flows from Bitcoin are trending towards Ethereum.