Bitcoin whale opens $491 million Ether long position

A major Bitcoin whale, identified as Bitcoin OG 1011short, has opened a significant $491 million long position in Ether (ETH), according to data from Lookonchain. This substantial move has fueled market speculation regarding potential insider knowledge or strong bullish sentiment for Ethereum. The trader also holds long positions in Bitcoin and Solana, bringing their total disclosed long position to over $614 million. Furthermore, the whale placed limit orders to potentially increase their ETH holdings within the $3,030 to $3,258 range and also placed orders for Solana. In a related move, the whale transferred approximately $477 million worth of BTC to a new wallet. This activity occurred while Ethereum's price was relatively flat, Solana surged nearly 6%, and Bitcoin climbed 2% over the preceding 24 hours.

(Source：Crypto Briefing)