F2Pool: Wang Chun Swaps 235.5 WBTC for 7848 ETH

F2Pool co-founder Wang Chun address executed a large WBTC to ETH swap overnight, moving 235.5 WBTC worth $19.31 million into 7848.5 ETH at $2460 with the pair at 0.03 on OKX.

The transaction follows recent patterns of large WBTC to ETH swaps by Chinese mining pool founders and aligns with ongoing scrutiny of F2Pool co-founder wallet history and holdings over the past year.

ETH price action on the 4h chart shows a bearish trend with price at $2480.7 below both EMA50 at $2630.64 and EMA200 at $2599.0, while RSI at 28.06 signals oversold conditions and MACD at -57.49 confirms the death cross; price remains inside the Bollinger Bands with upper resistance at $2782.77 and lower support at $2414.85, suggesting a potential test of the lower band before any relief rally tied to BTC strength.