A dramatic shift in the cryptocurrency market has been observed as dormant Bitcoin whales have begun moving their investments from Bitcoin (BTC) to Ethereum (ETH). These long-inactive investors are now actively buying ETH, while selling BTC. This change is being driven by a growing interest in ETH as a potential alternative to Bitcoin for institutional investors. Lookonchain reports that a whale with significant historical holdings of Bitcoin has recently sold off over $642 million worth of BTC and purchased an estimated $267 million in ETH via spot trades, while also opening a substantial long position of 135,265 ETH. A second investor with a large Bitcoin portfolio has also transferred their Bitcoin into Hyperliquid to sell and buy Ethereum. These moves signal a potential shift in the strategies of some major Ethereum holders. Furthermore, Ethereum futures on the CME platform have hit record levels at $8.3 billion in open interest, reflecting increased institutional interest in ETH as a viable alternative to BTC. This increase in interest has translated into price gains for ETH – it is currently up 1.08% over the last 24 hours and trading around $4,341. This, coupled with significant inflows into spot Ethereum ETFs, further fuels market confidence in Ethereum as a leading player within the crypto space.