📍Bitcoin whales pivot to Ethereum
📌 After 7 years of "hibernation", a large address has sold most of its BTC, purchased 62,914 ETH (~$270M), and opened long futures for 135,265 ETH (~$580M) – a rare capital shift of nearly $850M from BTC to altcoin.
📌 This move occurred as BTC adjusted to ~$112K, while ETH was only about 13% away from its ATH of $4,878. ETF capital flows are clearly leaning towards ETH (in +$287.6M/day) while BTC ETF is seeing withdrawals (-$194.3M/day).
📌 This whale may be related to 6 other wallets holding a total of 83,585 BTC (~$9.4B). Previous awakenings of long-term whales have often raised concerns but have triggered FOMO, contributing to pushing BTC above $100K.
👉 Some OG Bitcoin holders have begun to see Ethereum as a "parallel pillar" alongside BTC, reflecting a significant shift in capital flows in this new cycle. $BTC