A major whale/institution sold 2,070 BTC and bought 30,367 ETH, opening long contracts for 78,000 ETH in the past 24 hours

According to ChainCatcher, on-chain analyst Yujin has monitored that a whale/institution, which has held 10,606 BTC for as long as 7 years and made a profit of $1.12 billion, has sold 2,070 BTC ($235 million) in the past 24 hours.

A portion of the proceeds from the BTC sale was used to purchase 30,367 ETH ($131 million) in spot, while another portion was used to open long positions on 78,000 ETH via contracts (with a position value of $336 million). The entity still holds 8,437 BTC ($960 million) and may continue to rotate its holdings into ETH.