Bitcoin Whale Shifts $113M to $240M Ether Position

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A Bitcoin whale rotated another $113 million worth of Bitcoin into a $240 million spot Ether position after closing part of a previous Ether perpetual long worth almost $300 million.

A recently emerged Bitcoin whale, or big investor, continued to acquire Ether, transferring another $113 million worth of Bitcoin after seven years of dormancy.

The Bitcoin whale sold $76 million worth of Bitcoin and opened a $295 million perpetual futures long position on Ether, Cointelegraph reported earlier Thursday.

The mysterious whale closed part of his perpetual futures positions and deposited another 1,000 BTC worth $113 million on the decentralized exchange Hyperliquid, most of which was sold to enter the long spot Ether position.

The whale held 55,700 spot Ether worth over $240 million, and another 300 BTC worth $34 million in his Hyperliquid balance, according to pseudonymous onchain analyst MLM, who added that there was another $167 million worth of Bitcoin in his main wallet, which would “likely be sent to Hyperliquid.”


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