$10 Billion Shuffle! "Bitcoin Whale" Awakens After Seven Years: Dumps Bitcoin, Scoops Up Ethereum

　　Recently, more and more crypto investors may have noticed an interesting phenomenon—Bitcoin, the world's largest cryptocurrency, has been experiencing high volatility and even weakening, while the second-largest cryptocurrency, Ethereum, has shown significantly stronger performance...

　　It is reported that last week, this "Bitcoin whale" with holdings exceeding $11 billion sold 22,769 Bitcoins worth $2.59 billion (approximately ¥18.5 billion RMB), converted the funds into 472,920 spot Ethereum (worth $2.2 billion), and opened a long position of $577 million in Ethereum perpetual contracts on the decentralized exchange Hyperliquid.

　　According to data from blockchain intelligence platform Lookonchain, on Monday, the whale closed a $450 million long position in perpetual contracts when Ethereum was priced at $4,735, locking in a profit of $33 million, and then purchased an additional $108 million worth of spot Ethereum.

　　According to Gracy Chen, CEO of Bitget, the sixth-largest cryptocurrency exchange by daily trading volume, Bitcoin may continue to lack momentum over the next two weeks, which could drive investor funds into Ethereum, signaling new potential all-time highs.

　　"Ethereum breaking through $4,300 indicates strong ecosystem demand and may kick off a seasonal altcoin rally," Chen said. "Over the next one to two weeks, Bitcoin is expected to trade between $110,000 and $120,000, while Ethereum will perform more strongly, targeting a range of $4,600 to $5,200."

　　Chen noted that Fed Chair Powell's "surprisingly dovish remarks" last Friday were a "key catalyst" boosting risk appetite among cryptocurrency investors. "On-chain data shows that a fund rotation is underway, with whales selling Bitcoin to increase exposure to Ethereum, further accelerating Ethereum's momentum," she pointed out.

　　It is worth mentioning that on several trading days this month, Ethereum ETF trading volumes have matched or even exceeded Bitcoin's trading volumes, all following a wave of corporate buying frenzy.