u.today
A significant shift from Bitcoin to Ethereum is being made by a cryptocurrency whale, providing more evidence of the recent divergence between the two biggest cryptocurrencies.
Pushing the staking forward
The whale sold 1,107 $BTC, worth roughly $86.76 million, on Hyperliquid over the previous five days, according to on-chain tracker Lookonchain. The same entity then bought 34,422 $ETH, or about $86.5 million, and staked the entire position.
Compared to a simple $BTC-to-$ETH trade, the staking component adds interest to the transaction. Rather than holding the acquired $ETH liquid for another short-term trade, the whale committed the entire position to staking. That shows that the rotation was not just a quick switch to cash or another liquid trading position, but it does not prove a specific investment horizon.
The decision is currently given some context by price action. On the given daily chart, Bitcoin is trading at about $81,500 and has reached the crucial resistance area between $81,500 and $82,000. In May, $BTC had trouble in this area, so a clear breakout would be required to prolong the rebound.
Can Bitcoin retain the growth pace?
However, the fundamental structure of Bitcoin is still robust. While the shorter averages have turned sharply upward, the price is above all of the major moving averages displayed on the chart. Beyond $82,000–$83,000, a breakout would remove the most obvious technical barrier in the vicinity. If this fails, $79,000–$80,000 might come back into play.
Ethereum has been moving more quickly lately. $ETH broke above the $2,400–$2,550 consolidation range and is currently trading close to $2,649. It is trading comfortably above all of the major moving averages, having reached about $2,700 intraday.
The next clear barrier is located between $2,700 and $2,750. The trend is strong without replicating the extreme momentum conditions observed during some previous spikes, as the RSI is elevated but has not moved significantly beyond its recent range.
A market-wide shift from Bitcoin to Ethereum is not established by one whale transferring $86 million. However, the transaction is noteworthy because Ethereum outperformed Bitcoin during the most recent session; according to contemporaneous market data, $ETH gained about 3%, while $BTC gained about 1%.