Bitcoin Whales Shift Capital: OG Holders Pivot to Ethereum Amidst Market Dynamics
Analysis suggests that long-term Bitcoin holders ("OG whales") may be influencing BTC's price trajectory. It currently requires substantial fresh capital to absorb their sales.
A significant event saw a large whale rotate $2 billion worth of BTC into ETH, impacting market caps. This whale also strategically profited from ETH/BTC trades, effectively frontrunning market participants.
This trend, potentially driven by Ethereum's recent strong performance, indicates an evolving dynamic among major crypto holders.