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Recently, an interesting phenomenon has caught attention—a big fish is quietly adjusting its chips.
According to on-chain data, this institutional player completed a significant operation today using a cross-chain tool: exchanging 282.1 Bitcoin (worth approximately $26.33 million) for 8,098 Ethereum, with the swap price around $3,251 at the time.
What's more interesting is that his account still holds 646.5 Bitcoin, valued at about $61.68 million. When considering this position size along with the current actions, it likely indicates that further position adjustments may follow.
Swapping BTC for ETH is not uncommon nowadays. However, such a large whale operation often reflects an institution's short-term market outlook. Could this transaction just be the beginning?