2026-01-07 04:22:25

Interesting on-chain movement—A leading strategic reserve fund just withdrew $15.07 million worth of BTC from a lending platform and converted it all into ETH. There are many stories behind this move: those WBTC were purchased early last year at an average price around $104,700, and now selling them incurs an unrealized loss of nearly $2 million. However, the 4,600+ ETH bought afterward have an average cost of over $3,260. This major shift from Bitcoin to Ethereum reflects new strategic thinking among large holders regarding asset allocation. Wallet data is available on-chain, and interested friends can track subsequent changes themselves. Movements by such top addresses often signal subtle shifts in market sentiment.

BTC-0,57%

ETH-0,7%

WBTC-0,49%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

9 Likes

Reward
9
9
Repost
Share

Comment

0/400

MindsetExpander

· 3h ago

Wait a minute, a big player lost 2 million just to switch to ETH? Something feels off. --- Switching from BTC to ETH so quickly, are they sensing something? --- Risking a 2 million loss on paper, this kind of big player mentality is definitely different. --- I just want to know how they plan to exit these 4,600 ETH later; it feels more complicated than BTC. --- This move is either a bottom-fishing for ETH or they have lost all confidence in BTC. --- Starting to track wallets again, these tracking games are really addictive. --- Switching to ETH is acceptable, but a $2 million loss... Are you sure you’re not caught in a trap? --- On-chain data shows everything. What I fear most is discovering I bought the wrong one. --- Are the movements of top addresses indicating a market shift? Then I’d be trading in the opposite direction all the time. --- WBTC was sold off at 104,700, now entering ETH at 3,260. Are they betting on ETH to take off?

View OriginalReply0

RektRecorder

· 01-08 20:00

Are you still willing to cut after losing $2 million? How confident are you in ETH with this move?

View OriginalReply0

BlockchainGriller

· 01-08 18:26

This guy is really bold, directly cutting positions with a $2 million loss, betting on ETH to surpass, his guts are truly unmatched.

View OriginalReply0

TradingNightmare

· 01-07 04:49

Still daring to switch tracks after a 2 million loss? You must have a really strong mindset.

View OriginalReply0

ser_aped.eth

· 01-07 04:49

A loss of 2 million directly cut, how strong is this mentality --- Bitcoin is in hand, switching to Ethereum, it feels like big players are also betting on the direction --- What does this move mean, is BTC no longer attractive? Feels a bit aggressive --- On-chain shows it clearly, this kind of transfer always hints at something, gotta keep a close eye --- Able to endure a 2 million loss and still heavily invest in ETH, is this faith or gambler's psychology --- Seeing actions from these top wallets just makes me want to follow, but I always feel a step behind --- WBTC to ETH, probably preparing for a certain narrative --- If only this move could signal a market turn, but unfortunately, we are all armchair strategists after the fact

View OriginalReply0

StealthMoon