A Bitcoin whale reduced its long ETH position by $295 million and continued to sell BTC for ETH.

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On August 21, according to Lookonchain monitoring, a Bitcoin ancient whale sold 550 BTC this morning, closed the long position of 68,130 ETH (approximately $295 million), and switched to buying ETH spot.

Within the past 6 hours, it deposited 1,000 BTC (approximately $113.95 million) into Hyperliquid to purchase ETH, and has bought 19,794 ETH (approximately $85 million) so far.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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