Bitcoin Whales Sell Billions, Shifting to Ethereum Amidst Altcoin Season Hype

A prominent cryptocurrency whale has made a significant move, selling nearly $460 million worth of Bitcoin (BTC). This divestment has resulted in a substantial increase in the whale’s Ethereum holdings, now exceeding $806 million. Data tracking from on-chain analytics platform Lookonchain reveals this investor currently controls over 179,448 ETH, with an average purchase price of $4,490. The whale’s portfolio includes both spot and leveraged long positions, with the latter accounting for about $581 million in ETH and exceeding $100 million in unrealized profits.