火星财经消息，1 月 16 日，据余烬监测，前天把 BTC 换仓至 ETH 的巨鲸/机构，今天继续把 404 枚 BTC (3884 万美元) 通过跨链兑换工具 THORChain 卖成了 11,533 枚 ETH。 两天时间里他一共把 686.1 枚 BTC (6517 万美元) 换成了 19,631 枚 ETH，兑换的 ETH 均价 3,302 美元。

<div>火星财经消息，1 月 16 日，据余烬监测，前天把 BTC 换仓至 ETH 的巨鲸/机构，今天继续把 404 枚 BTC (3884 万美元) 通过跨链兑换工具 THORChain 卖成了 11,533 枚 ETH。 两天时间里他一共把 686.1 枚 BTC (6517 万美元) 换成了 19,631 枚 ETH，兑换的 ETH 均价 3,302 美元。</div>

BTC换仓ETH巨鲸再次换仓价值3884万美元ETH

According to Mars Finance, on January 16th, based on Ember's monitoring, the whale/institution that swapped BTC to ETH the day before yesterday continued to sell 404 BTC ($38.84 million) for 11,533 ETH via the cross-chain exchange tool THORChain. In two days, they exchanged a total of 686.1 BTC ($65.17 million) for 19,631 ETH, with an average ETH exchange price of $3,302.

<div>According to Mars Finance, on January 16th, based on Ember&#39;s monitoring, the whale/institution that swapped BTC to ETH the day before yesterday continued to sell 404 BTC ($38.84 million) for 11,533 ETH via the cross-chain exchange tool THORChain. In two days, they exchanged a total of 686.1 BTC ($65.17 million) for 19,631 ETH, with an average ETH exchange price of $3,302.</div>

BTC to ETH swap: Whale swaps ETH worth $38.84 million.

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
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The Black Swan Event Was Actually This: The Real Reason for the Recent Bitcoin Crash

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

The release of this new regulation marks a historic leap in the attitude of Chinese regulators towards virtual assets, shifting from a "complete ban" to a "combination of restriction and guidance."

Article Author & Source: Guofeng Law Firm On February 6, 2026, the "Notice on Further Preventing and Handling Risks Related to Virtual Currencies" (Yinfa [2026] No. 42, hereinafter referred to as "Document No. 42"), jointly issued by eight ministries led by the People's Bank of China, and the "Regulatory Guidelines on the Issuance of Asset-Backed Securities Tokens Overseas by Domestic Assets" (hereinafter referred to as the "Guidelines") simultaneously issued by the China Securities Regulatory Commission, have triggered significant reactions in the legal and financial circles...