According to @lookonchain, a Bitcoin OG closed all 96,452 ETH long for a $2.6M profit and then switched to buying ETH spot (source: Lookonchain on-chain tracking). Lookonchain reports that over the past 14 hours this wallet sold 3,968 BTC worth $437M and bought 96,531 ETH worth $443M in spot markets (source: Lookonchain). Lookonchain also states that the wallet has accumulated a total of 641,508 ETH valued at $2.94B over the past week (source: Lookonchain). Based on Lookonchain’s wallet tracking, these flows reflect a rotation from BTC to ETH and a shift from leveraged exposure to spot accumulation, underscoring sizable ETH spot demand (source: Lookonchain).

According to @rovercrc, an OG Bitcoin whale sold 4,000 BTC and rotated roughly 460 million USD into ETH, source: @rovercrc on X. The post states the wallet now holds 179,448 ETH in spot valued around 806 million USD and a 135,265 ETH long position valued near 581 million USD, source: @rovercrc on X. The combined ETH exposure reported is approximately 1.39 billion USD across spot and long based on the stated valuations, source: @rovercrc on X.

According to @rovercrc, ETH supply is being absorbed by ETFs faster than Bitcoin, signaling capital rotation into ETH (source: @rovercrc on X, Aug 20, 2025). For trading, monitor ETH/BTC relative strength and compare daily ETH ETF net creations versus BTC ETF flows to validate or fade the rotation narrative (source: @rovercrc on X, Aug 20, 2025). The post frames this as capital rotating toward ETH, implying near-term focus on ETH spot supply, price discovery, and spreads versus BTC among traders evaluating momentum and risk (source: @rovercrc on X, Aug 20, 2025).