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Benzinga
Benzinga
Business
Khyathi Dalal

HISTORICAL FACTS: Why are dormant bitcoin whales rotating into ethereum ahead of powell s jackson hole speech | History Defined

Ethereum Bitcoin Jackson Hole Jerome Powell Ted Pillows
Two,Coins,Bitcoin,And,Ethereum,On,A,Dark,Background.,Business

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.

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