The cryptocurrency market is witnessing a dramatic capital rotation, with Bitcoin OG whales betting nearly $700 million on Ethereum with high leverage. Although currently facing a floating loss of about $43.04 million, this still highlights the intense tug-of-war between bulls and bears.
Since late November, hundreds of millions of dollars in Bitcoin have been exchanged for Ethereum, as whales and institutions have shifted their funds towards ETH, betting on its strengthening against BTC.
J.P. Morgan favors Ethereum due to its core position in the "tokenization" wave, and BlackRock has also invested about $140 million in ETH, demonstrating the optimism of traditional financial giants regarding Ethereum's potential, further substantiating this capital migration trend.
BTCUSDT
Perp
86,986.9
-0.41%
ETHUSDT
Perp
2,872
-2.00%
BNBUSDT
Perp
848.89
-2.39%