#BTCWhalesMoveToETH 📊 Large whale transactions:
A “Bitcoin OG” has continued to deposit 3,968 BTC (~$437M) to the exchange in the last 13 hours.
Purpose: to sell BTC to obtain 96,533 ETH at a price of about $4,588/ETH.
👉 This means there is a huge amount of BTC being converted to ETH. This is a very notable signal because:
Selling pressure on BTC: A volume of nearly $0.5B could create short-term pressure on Bitcoin's price.
Confidence in ETH: Whales moving to ETH indicate they believe ETH has better growth potential, especially in the context of staking, DeFi, and stablecoins expanding.
Capital rotation trend: The flow of funds from BTC to ETH could open up a period of “mini altcoin season,” where ETH leads the wave.