According to @ai_9684xtpa, analyst @eyeonchains alleges the BTC-to-ETH rotation whale and the 10/11 flash-crash short seller are linked to Garrett Bullish (@GarrettBullish) via ENS ties between ereignis.eth and garrettjin.eth and interactions with addresses that deposited roughly 570,000 ETH to the Ethereum Beacon Deposit Contract, as shown in the analyst’s on-chain link analysis (source: @ai_9684xtpa on X citing @eyeonchains on X). The analyst’s thread states the whale publicly swapped over 35,000 BTC into ETH since August and opened more than $1.1B in BTC and ETH short positions ahead of the 10/11 move, netting over $80M in 24 hours (source: @ai_9684xtpa on X citing @eyeonchains on X). The post also cites remaining holdings of 46,295 BTC valued above $5.19B at the referenced time and lists prior roles at HTX and BitForex, noting BitForex halted operations after a ~$57M hot-wallet key leak in 2024 (source: @ai_9684xtpa on X citing @eyeonchains on X).

According to @EmberCN, on Sep 17, 2025 the Grayscale Ethereum Mini Trust ETF address transferred 214,400 ETH to 67 new wallets in equal 3,200 ETH tranches worth about 967 million dollars. Source: https://twitter.com/EmberCN/status/1968141623600222368; https://intel.arkm.com/explorer/entity/grayscale Each 3,200 ETH lot equals 100 Ethereum validators at 32 ETH per validator, a standard Proof of Stake unit size. Source: https://ethereum.org/en/staking The author suggests this pattern looks like preparation for PoS staking and notes that US spot ETH ETFs do not have staking approval. Source: https://twitter.com/EmberCN/status/1968141623600222368 There is no confirmation of staking in the cited on-chain transfers, only distributions across new wallets are visible. Source: https://intel.arkm.com/explorer/entity/grayscale If these wallets later send funds to the Ethereum Beacon chain deposit contract 0x00000000219ab540356cBB839Cbe05303d7705Fa, the 3,200 ETH per wallet would correspond to 100 validators per wallet and up to 6,700 validators in total, contingent on actual deposits. Source: https://ethereum.org/en/staking/deposit-contract; https://ethereum.org/en/staking Trading takeaway: monitor these 67 wallets and the Beacon deposit contract for follow-through deposits to gauge potential staking flows and any related liquidity tightening signal on ETH. Source: https://intel.arkm.com/explorer/entity/grayscale; https://ethereum.org/en/staking/deposit-contract