Whale reallocates 837.8 BTC into Ethereum positions via Hyperliquid
CIE News ·
A high-volume trader sold 837.8 BTC to deploy roughly $69.7 million into Ethereum, buying 27,500 ETH and establishing a $60.7 million ETH long on Hyperliquid.
A crypto trader offloaded 837.8 Bitcoin (BTC) to rotate roughly $69.7 million into Ethereum (ETH), Bitcoin.com News reported on Oct. 13. The entity sold 410.1 BTC on Hyperliquid for $34.13 million in USDC to purchase 13,527 ETH at $2,523, eventually accumulating 27,500 ETH across onchain trades and opening a $60.7 million ETH long position on Hyperliquid. Onchain analyst Ai Yi tracked the swap at an average ETH/BTC rate of 0.03046, with the whale realizing an estimated $5 million loss on a portion of the sold BTC to execute the shift.