Crypto
Ethereum Whale Shifts to BTC After $19M Profit
A prominent Ethereum whale has switched their attention to Bitcoin after selling a significant amount of ETH last year. The investor, who offloaded 50,600 ETH at an average price of $2,921, generated a profit of around $19 million.
The whale then used the proceeds from this sale to buy 179.8 BTC via THORChain, exchanging 14.2 million USDC for the cryptocurrency at a price of $78,955.
This move comes as Bitcoin's price trades just under its EMA50 resistance level of $78,953.08 within a bearish structure confirmed by a MACD death cross.