F2Pool Co-Founder Swaps WBTC for 13K ETH

F2Pool co-founder Wang Chun (@satofishi) executed two large ETH purchases this week, converting 235.51 WBTC into 7848.53 ETH worth roughly 19 million dollars at an ETH/BTC rate of 0.03 and then pulling 5173.41 ETH from Binance at an average price of $2485.89.

The same address also withdrew 50.5 WBTC worth 3.17 million dollars in a separate transaction, bringing the seven-day total to 12282.9 ETH and 475.87 WBTC acquired at average prices of $1696.41 and $62788 respectively.

ETH currently trades at $2494.48 on the four-hour chart, sitting inside the Bollinger Bands between $2407.24 support and $2664.55 resistance while the EMA50 at $2601.59 and EMA200 at $2592.38 continue to cap upside as resistance. Momentum shows RSI at 35.26 in neutral territory and MACD at -47.55 after a golden cross, suggesting the bearish structure may be losing steam. With price testing the lower half of the bands beneath both EMAs, a move back toward the 50-EMA resistance zone near $2600 appears likely before any sustained breakout attempt.