Bitcoin Whale Adjusts Portfolio by Closing Derivatives, Buying Spot Ether

A significant Bitcoin whale recently engaged in a strategic portfolio adjustment, closing $450 million worth of Ethereum perpetual long positions on Monday while simultaneously purchasing $108 million in additional spot Ether. This move, according to Cointelegraph, saw the whale exit profitable derivative trades at an average price of $4,735, resulting in $33 million in realized profits. The whale’s portfolio now holds 40,212 ETH ($184 million) in long positions, with an additional $11 million in unrealized profit.