A prominent Bitcoin billionaire is continuing his aggressive pivot into Ethereum, according to data from whale-tracking platform Lookonchain.
Over the past 12 hours alone, the investor sold 2,000 BTC worth $221 million and used the proceeds to purchase 49,850 ETH valued at $219 million on spot markets.
In total, the whale has accumulated 691,358 ETH worth roughly $3 billion in just the past two weeks, marking one of the most significant ongoing shifts of capital from Bitcoin into Ethereum seen in recent months.
After briefly pausing his ETH purchases for two days, the whale returned to the market with force, depositing another 1,000 BTC ($108.27 million) to Hyperliquid, where he sold the coins and converted the funds directly into spot Ethereum.
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Alongside these buys, the trader also closed out a massive leveraged long position of 96,452 ETH ($433 million), securing a profit of $2.6 million before immediately reinvesting into spot ETH.
In the past 14 hours, his activity has further intensified, with sales of 3,968 BTC worth $437 million matched by fresh acquisitions of 96,531 ETH valued at $443 million.
This series of moves underscores a strong conviction in Ethereum over Bitcoin, with billions in capital being actively reallocated in real time.
Bitcoin price down 6%
Bitcoin has been steadily declining over the past week. According to the data from CoinMarketCap, BTC price is down 5.96% from $115,560 to $108,572.
Source: CoinMarketCap
Bitcoin (BTC) is priced at $108,541.96, rising 1.35% over the past day. Its market cap is $2.16 trillion, showing a 1.35% decline, while the 24-hour trading volume is $72.74 billion, up 11.58%.
The fully diluted valuation (FDV) stands at $2.27 trillion, with a volume-to-market-cap ratio of 3.41%. The total supply is 19.91 million BTC.
