Whale continues to rebalance: converting $24.6 million worth of ETH into WBTC, significantly adjusting the holdings structure

YieldWhisperer · 2026-01-04T11:40:10+00:00

A whale recently exchanged a large amount of Ethereum (ETH) for Bitcoin (WBTC), completing a swap of 21,973 ETH, worth approximately $69 million. This move indicates their market outlook, possibly optimistic about Bitcoin's short-term performance or engaging in risk hedging, which warrants market attention.

YieldWhisperer

2026-01-04 11:40:10

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【ChainNews】A major holder has recently been adjusting their positions, starting yesterday by pouring ETH into BTC. According to on-chain data tracking, this whale made another move today—an hour ago, they directly exchanged 7,828 ETH (equivalent to $24.6 million) for 269 WBTC.

Even more astonishing is that their large-scale rebalancing is still ongoing. In total, this individual has converted 21,973 ETH (worth $69 million) into 761.4 WBTC, with an average acquisition cost of $90,491. Currently, they have about 370 ETH left in their wallet (roughly $1.16 million), indicating a major migration from Ethereum to Bitcoin has essentially been completed.

Such levels of position adjustment usually reflect a certain market outlook from large holders. Are they optimistic about Bitcoin’s short-term performance? Or are they hedging against some risk? These big moves in the market are always worth paying attention to.

ETH-1,16%

WBTC-0,12%

BTC-0,16%

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MemecoinTrader

· 01-07 09:14

ngl the timing on this btc accumulation play is giving major pre-pump sentiment engineering vibes... whale coordinating narrative cascade or just hedging? either way the memetic velocity on this move is *chef's kiss* - watch how fast this gets amplified across socials in 3...2...1

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