A major Bitcoin whale recently moved $113 million worth of Bitcoin into a $240 million spot Ether holding, continuing a notable rotation into Ether investments. This follows the whale’s earlier closure of nearly $300 million in Ether perpetual futures positions. 

After seven years without significant activity, the investor sold $76 million in Bitcoin to open a $295 million perpetual Ether long position. The recent move involved depositing 1,000 BTC ($113 million) into the decentralized exchange Hyperliquid, much of which was sold to expand the spot Ether holdings to 55,700 ETH, valued at over $240 million. 

The whale also retains roughly $167 million in Bitcoin in the main wallet, expected to move to Hyperliquid. Analysts suggest the moves may be either speculative or based on bullish insider news. This activity occurred amid Bitcoin’s dip near a two-week low ahead of key Federal Reserve talks.

source: cointelegraph.com

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