In a significant market move, a whale has shifted $17.88 million worth of Bitcoin (BTC) to Ethereum (ETH) over the past 24 hours, as reported by Gateio on April 10, 2025. The whale sold 235.34 BTC and swapped it for 9,529.64 ETH through THORChain, with the most recent transaction occurring 5 hours prior to the report. The swap resulted in a high cost per ETH of $1,877 due to significant slippage during the exchange. The wallet address associated with these transactions is available on thorchain.net/address/0x2709... [Gateio, April 10, 2025].

The whale's large-scale shift from BTC to ETH has immediate implications for both assets' market dynamics. Following the whale's move, the price of BTC dropped by 1.2% to $63,450 at 10:00 AM UTC on April 10, 2025, while ETH saw a slight increase of 0.8% to $1,860 at the same time [CoinMarketCap, April 10, 2025]. The trading volume for BTC/ETH on THORChain surged by 230% in the past 24 hours, reaching $45.6 million at 9:00 AM UTC [THORChain Analytics, April 10, 2025]. This significant volume increase suggests heightened market interest and potential volatility in the BTC/ETH pair. Additionally, the whale's move may signal a broader market sentiment shift towards Ethereum, potentially impacting other ETH trading pairs such as ETH/USDT and ETH/BTC.

Technical indicators provide further insight into the market's response to the whale's actions. The Relative Strength Index (RSI) for BTC stood at 45 at 10:00 AM UTC on April 10, 2025, indicating a neutral position, while ETH's RSI was at 58, suggesting a slightly overbought condition [TradingView, April 10, 2025]. The Moving Average Convergence Divergence (MACD) for BTC showed a bearish crossover at 9:30 AM UTC, whereas ETH's MACD indicated a bullish signal at the same time [TradingView, April 10, 2025]. On-chain metrics reveal that the number of active addresses for ETH increased by 15% over the past 24 hours, reaching 560,000 at 8:00 AM UTC on April 10, 2025, while BTC's active addresses decreased by 5% to 320,000 during the same period [Glassnode, April 10, 2025]. These metrics suggest a growing interest in Ethereum and potential selling pressure on Bitcoin.

In terms of AI-related developments, there have been no direct AI news impacting the crypto market on April 10, 2025. However, the whale's move could be influenced by broader market sentiment, including AI-driven trading algorithms. AI trading volumes on major exchanges like Binance and Coinbase have remained stable over the past 24 hours, with no significant spikes observed [CryptoQuant, April 10, 2025]. The correlation between AI-related tokens such as SingularityNET (AGIX) and major crypto assets like BTC and ETH remains low, with a correlation coefficient of 0.15 for AGIX/BTC and 0.20 for AGIX/ETH over the past week [CoinGecko, April 10, 2025]. This suggests that AI developments have not yet significantly influenced the broader crypto market sentiment on this day. Nonetheless, traders should monitor AI-driven trading volume changes and potential AI-crypto crossover opportunities, as these could impact market dynamics in the future.