#ETHBreaksATH The reason for the recent sharp decline in Bitcoin prices is believed to be related to a cluster of whale wallet addresses that are actively rotating capital from BTC to ETH.

According to on-chain analyses, whales may have sold a total of 24,000 BTC (~$2.7B) in the past week. The majority of this capital was funneled into $ETH with numerous positions in both spot buying and long futures totaling over $2B. Of this, $1.3B of ETH spot has been sent for staking.

A similar trend is also reflected in ETF funds as the ETH ETF attracted significantly larger capital inflows compared to the BTC ETF in August. Experts believe that expectations regarding staking activity in the soon-to-be-approved ETH ETF are helping this altcoin become the focal point.$ETH