A major bitcoin whale with a diamond bitcoin in the last seven years has sold some of its bag to open a long position with the ether (Eth), joining a recent wave of bitcoin whales that open up to Ethereum.
OG Whale sells 670 Bitcoin (Btc) for $ 76 million on Wednesday, then those funds were used to Go to full four positionscovers 68,130 et, lookonchain Says On an x post on Thursday.
Prior to the sale, the whale had 14,837 Bitcoin worth more than $ 1.6 billion, returning to purchases from Crypto exchanges Binance and HTX more than seven years ago.
It just came one week after bitcoin reached a new all-time high of $ 124,128 on August 14th, and Ether approached to get the 2021 all-time high $ 4,878.
Whale positions go down after purchase
All four ether positions of the whales were opened around the $ 4,300 mark, according to the lookonchain, and most ether was at 10x leverage, while a smaller 2,449 position was at 3x leverage.
However, after the whale opened their positions on Wednesday, Ether’s price dropped, hitting a low $ 4,080, putting three in red and just about $ 300 from winter prices of $ 3,699, $ 3,700 and $ 3,732.
Ether traded 2.9% in the last 24 hours, According to In coingecko, and is currently changing hands for $ 4,287 per token.
The institutions that are also stacked by the ether
A panic trio of whales sells 17,972, 13,521 and 3,003 ether during a market dip on Tuesday, lookonchain SaysBut the others are waiting on the wings to make it.
At the same time, the two wallets associated with the institution were stacked by the ether, accumulating 9,044 each worth $ 38 million, According to to look at.
The Bitmine Immersion Technologies, a public exchanged by Bitcoin Company, also Added another 52,475 ether to its treasurycarrying its holdings to 1.52 million tokens worth $ 6.6 billion.
Old whales also moved their Bitcoin bags last month as well
Meanwhile, two other Bitcoin whales also moved a huge amount of Bitcoin last month, but did not buy ether.
A Satoshi -ra bitcoin whale with 80,201 tokens began to move its holdings to the Galaxy Digital after becoming a dormant for 14 years, making the final move in July 16.
Related: Ether Trader turns $ 125k to $ 43m, locked at $ 7m after market collapse
After six years of dormancy, another smaller whale woke up on the same day and moved Out 1,042 Bitcoin, which costs $ 123 million, in a new purse.
Crypto analyst Willy Woo said in June that whales with more than 10,000 Bitcoin has been selling since 2017, answering an X user question about who sells amid higher interest from institutions.
However, analysts in Cointelegraph OG Bitcoiners said the sale of their holdings had nothing to worry about because New buyers are jumpingwhich is a great sign of a mattress market.
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