Smart money is on the move: within two days, $370 million has quietly shifted towards Ethereum
A series of data this morning revealed a hidden trend: smart money is moving from Bitcoin to Ethereum, with swift and precise actions.
The most direct evidence comes from on-chain data: in just two days——
· BitMine is suspected of adding another 23,637 ETH (approximately $75 million), continuing the recent accumulation pattern;
· A certain whale exchanged 502.8 BTC$BTC for 14,500 BTC$ETH , which is part of its total accumulation of nearly 2,000 BTC converted into Ethereum, with a total value exceeding $370 million.
This is not a sporadic operation, but a large-scale capital rotation.
Why is the market quietly turning? Three logics are gradually becoming clear:
1. Narrative rotation: The Bitcoin ETF and “digital gold” narrative have been fully priced in, while Ethereum's ecological benefits, deflationary mechanism, and Layer 2 explosion are becoming the next value capture points;
2. Liquidation structure: The current ETH price is at a critical range—if it breaks above $3,257, it will trigger $632 million in short liquidations, forming a strong short squeeze; if it falls below $2,950, there will also be long liquidation pressure, but continuous buying indicates that capital believes more in an upward breakout;
3. Macro immunity: External risks like the Bank of Japan's interest rate hike are reducing their impact on the crypto market, with capital focusing more on internal structures and technical narratives.
When whales start exchanging Bitcoin for Ethereum, and institutions continue to accumulate amid price fluctuations, what they express is not just “optimism,” but a strategic choice for asset rebalancing.
The market always completes its switch before most people notice. This time, the signals are clearly written on-chain: the wind is shifting from “digital gold” to “digital ecology.”
If you're still asking, “Can Ethereum rise?” perhaps you should ask a different question: why have those with information and capital already provided the answer with real money? The ecology on the Ethereum chain will become more prosperous, like p u p p i e s🐶 super bullish
