BTC Surges as Whales Swap ETH for Bitcoin: Latest Analysis on ETH/BTC Exchange Rate Decline

Recent insights from on-chain analyst Yu Jin reveal a pronounced shift in the cryptocurrency landscape, particularly as the **Bitcoin (BTC)** price surges to unprecedented levels. In contrast, the **Ethereum (ETH)/BTC** exchange rate is experiencing a notable decline, prompting significant movements among large investors. Observations indicate that two prominent **whales** have opted to liquidate their **ETH holdings** in exchange for Bitcoin. Specifically, one address, designated as 0xd1e…d0e, has divested 7,346 ETH within a span of three days, converting those assets into 248.6 **Wrapped Bitcoin (WBTC)**, which equates to an impressive $22.82 million transaction at a valuation of $91,776. Additionally, another address, 0x3ec…19f, has executed a transaction 8 hours prior, selling 5,980 ETH for a combination of 102.1 **tBTC** and 93 **cbBTC**, amounting to an approximate value of $18.31 million at a price of $93,851. This trend highlights the evolving dynamics of the crypto market as investors recalibrate their portfolios amid shifting valuations.