A large transaction has just been confirmed on the chain: over 22,000 ETH (with a market value of over $70 million) was fully converted into 774.1 WBTC. The average cost basis for this transaction's WBTC is around $90,505. Such a transaction scale and the switch from ETH to BTC assets usually reflect the market's perception of the market structure—large investors are expressing their confidence in Bitcoin's relative value through actual operations. Changes in asset allocation by major whales often preempt subtle shifts in market sentiment.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
16 Likes
Reward
16
5
Repost
Share
Comment
0/400
DisillusiionOracle
· 01-06 21:04
The whales are sneaking around again. They really dare to go all in on BTC at this time.
View OriginalReply0
MevHunter
· 01-05 11:02
Whales are starting to dump ETH, this signal is a bit significant.
View OriginalReply0
ShitcoinArbitrageur
· 01-04 15:55
22,000 ETH for WBTC? Is this whale suggesting that BTC is about to take off?
View OriginalReply0
LiquidityHunter
· 01-04 15:51
22,000 ETH for 774 WBTC? The turnover price needs to be carefully examined. How exactly is this average price of 90505 calculated? Is it possible that slippage is too severe?
View OriginalReply0
AltcoinMarathoner
· 01-04 15:36
just like mile 20 in a marathon, this eth→btc rotation is where the real conviction shows. whales don't make moves this size on noise—they're signaling something about the macro cycles ahead. accumulation phase? maybe. but the institutional flows data will tell us more in a few weeks tbh
A large transaction has just been confirmed on the chain: over 22,000 ETH (with a market value of over $70 million) was fully converted into 774.1 WBTC. The average cost basis for this transaction's WBTC is around $90,505. Such a transaction scale and the switch from ETH to BTC assets usually reflect the market's perception of the market structure—large investors are expressing their confidence in Bitcoin's relative value through actual operations. Changes in asset allocation by major whales often preempt subtle shifts in market sentiment.