
Dormant Bitcoin (CRYPTO: BTC) whales are springing to life, shifting capital into Ethereum (CRYPTO: ETH) as traders bet on stronger performance from ETH.
What Happened: On-chain data from Lookonchain revealed that a Bitcoin whale, who received 100,784 BTC ($642 million) nearly seven years ago has resurfaced, offloading BTC to buy 62,914 ETH ($267 million) spot and opening a 135,265 ETH ($577 million) long position.