A prominent cryptocurrency wallet, notably profitable for shorting Bitcoin (BTC) during the LUNA/UST crash, has significantly shifted its position by accumulating substantial amounts of Wrapped Bitcoin (WBTC) and Ethereum (ETH).
According to on-chain data, the wallet acquired 39.57 WBTC at an average price of $117,993 and purchased 1,362.8 ETH at an average price of $3,757.25 per token. This activity represents a total investment of approximately $9.765 million.
Signaling a strategic asset adjustment, the holder obtained 643.19 ETH specifically by swapping WBTC, indicating a focused reallocation within their portfolio.
The size and nature of this purchase are drawing considerable market attention. The wallet’s historical success during a major market downturn lends significant weight to its trading decisions. Market observers interpret this substantial accumulation of BTC and ETH, especially following successful bearish bets, as a potential indicator of confidence in the near-term performance of these leading assets.
This accumulation may suggest the whale anticipates market stabilization or an emerging upward trend for Bitcoin and Ethereum.