$BTC dumped heavily as whales sell off and shift to $ETH?

The reason for Bitcoin's sudden drop recently is believed to be related to a cluster of whale wallet addresses actively rotating capital from BTC to ETH.

According to on-chain analysis, whales may have sold a total of 24,000 BTC (~$2.7B) last week. Most of this capital was funneled into $ETH with many positions in both spot buying and long futures worth over $2B in total. Of this, $1.3B in ETH spot has been staked.

A similar trend is reflected in ETF funds, as the ETH ETF attracted significantly larger capital inflows compared to the BTC ETF in August. Experts believe that expectations for staking activity in the soon-to-be-approved ETH ETF are helping this altcoin become the center of attention. #OnChainAnalysis