A major Bitcoin whale, who has held 14,837 Bitcoin worth over $1.6 billion for seven years, sold 670 Bitcoin for $76 million to invest in Ether, opening a long position valued at $295 million. This shift comes as a trend among Bitcoin whales towards Ethereum, with many others also engaging in similar moves. The whale's Ether positions were initiated at around $4,300 but soon faced challenges as Ether's price dipped to a low of $4,080, putting some positions at risk of liquidation. Despite the sell-off by other whales during a market dip, institutional investors are actively accumulating Ether. Notably, other Bitcoin whales have been shifting their holdings recently, with significant movements observed, yet analysts suggest that the selling by long-term holders is not a cause for concern, indicating a maturing market.

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