Bitcoin Investor Sells $76M in BTC to Invest in ETH

Large Bitcoin- a whale who has been actively investing in the last seven years Bitcoin, sold some of his assets to open a long position in Ethereum.

According to Lookonchain, a major investor moved 670 BTC ($76 million) to Hyperliquid, sold it, and opened long positions on ETH for $273,000,000.

This “whale” is known to hold 14,837 BTC worth $1,69 billion, purchased 7 years ago on the HTX and Binance at an average price of $7242.

A major investor has begun dumping Bitcoin just a week after the flagship crypto asset hit a new peak of $14 on August 124,128, and эфириум almost regained its 2021 historical maximum of $4878.

According to Lookonchain, all four of the whale’s ETH positions were opened at around $4300, with most of the Ethereum invested at 10x leverage and a smaller portion at 3x leverage.

However, after the investor opened positions on Wednesday, the leading altcoin’s price fell to a low of $4080, leaving his three positions in the red with just $3699 left to liquidate at $3700, $3732 and $300.

Ethereum has gained 24% in the last 1,5 hours, and at the time of writing, ETH is trading at $4284.

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