Another Bitcoin "ancient whale" has swapped ETH for Bitcoin.

He deposited 968 BTC, valued at approximately $106.44 million at current market prices, into the decentralized exchange Hyperliquid. Consistent with past activity, he is converting these Bitcoins into spot ETH.

This whale has been very active and large-scale recently. He has sold a total of 22,769 BTC, valued at $2.59 billion, and converted these funds into 472,920 spot ETH, valued at approximately $2.2 billion. He also established a long position in ETH perpetual swaps worth $577 million on the Hyperliquid platform, demonstrating his strong bullishness on Ethereum's future performance.

This whale demonstrated precise timing in his contract trading. When the ETH price reached $4,735, he closed out his $450 million perpetual swap position, effectively locking in a $33 million profit. Currently, he still holds a long position in ETH perpetual contracts worth $184 million, and the position has realized a paper profit of more than $11 million $ETH