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On-chain whales are at it again. In just 15 minutes, this whale address sold 40.65 WBTC and bought 1,155.52 WETH, with a total transaction volume of $3.75 million.
Updated data shows a single transaction swapping 13.55 WBTC for WETH. At this rate, the whale's $15.07 million WBTC position is basically about to be cleared.
What market signals are reflected behind the significant shift from WBTC to WETH? Such large on-chain transactions are usually worth paying attention to—after all, whale position adjustments often lead the market by a step.