A major whale/institution sold 2,070 BTC and bought 30,367 ETH in the past 24 hours, opening long positions on 78,000 ETH contracts
According to Jinse Finance, on-chain analyst Yujin has observed that a whale or institution, which has held 10,606 BTC for as long as seven years and made a profit of $1.12 billion, has sold 2,070 BTC ($235 million) in the past 24 hours. Part of the proceeds from the BTC sale was used to purchase 30,367 ETH ($131 million) in spot, while another portion was used to open long positions on 78,000 ETH contracts (position value of $336 million). This entity still holds 8,437 BTC ($960 million) and may continue to rotate its holdings into ETH.
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