#数字资产动态追踪 Just noticed an interesting on-chain signal — a major whale reserve address has emptied $15.07 million worth of WBTC, converting it entirely into WETH. As someone who frequently analyzes on-chain data, I find this kind of move quite intriguing.

The data is straightforward: they accumulated WBTC at an average price of $104,710 in early 2024, and now they are willing to take a loss of $1.978 million to switch positions. The new WETH was acquired at an average price around $3,260. What does this imply? Large funds are quietly shifting their focus from Bitcoin to the Ethereum ecosystem. I also observed that the withdrawal speed of WBTC from certain lending protocols is accelerating, while the number of large WETH holding addresses is steadily increasing — this is no longer an isolated event but a signal of institutional rebalancing.

From a fundamental perspective, Ethereum’s growth potential is being activated: the anticipation of spot ETFs is heating up, technical upgrade plans are progressing, and DeFi liquidity and staking yields remain attractive. In contrast, Bitcoin has been oscillating at high levels for a while, and new catalysts seem somewhat scarce. During such times, new alpha opportunities often hide behind large-scale rebalancing moves.

Is this loss-cutting to switch from WBTC to WETH? It’s not forced stop-loss; it’s a tactical reallocation — aiming to capture greater profit potential in the next wave of Ethereum’s market movement. Honestly, the market tends to favor those who can sense trend changes early.

If you hold ETH positions, now might be a good time to reassess. If you’re still on the sidelines, consider entering gradually during a pullback. Remember, before a major trend kicks off, position size often matters more than timing the market perfectly. On-chain data doesn’t lie. Stay calm, observe carefully, and wait for the next signal. $ETH