Bitcoin Hodler Swaps Crypto Fortune for Ethereum Long Position

A long-time Bitcoin holder recently unloaded their entire BTC position, totaling $60 million, to initiate a significant investment in Ether (ETH). The move, which involved selling 550 Bitcoin through the decentralized exchange Hyperliquid, yielded approximately $300 million worth of Ethereum, according to an onchain analyst. The sale triggered a notable price drop for Bitcoin on the platform, demonstrating the impact of large transactions on market dynamics.