Whale: Swaps 1601 BTC for 53095 ETH in Five Days

EmberCN reported a single whale entity sold another 288.9 BTC for 23.48 million USDC and purchased 9820 ETH in the past day. Over five days the address cluster has now offloaded 1601.1 BTC for 132 million USDC and accumulated 53095 ETH at a $2497 average entry.

The flow began with BTC withdrawn from HTX eighteen months ago, routed through Hyperliquid for conversion to USDC, then bridged via Arbitrum to Ethereum mainnet for the ETH purchases. Cumulative activity now shows 837.8 BTC sold against 27500 ETH bought at a $2534 average.

At the current ETH price of $2441.45 the position sits below both the 50-EMA at $2503.13 and the 200-EMA at $2554.63, confirming the bearish structure on the 4-hour chart. Price remains inside the Bollinger Bands with upper resistance at $2566.64 and lower support at $2353.48, while RSI at 45.42 stays neutral and MACD has printed a bullish golden cross at -26.09. With price testing the upper band while the longer-term EMAs cap upside, a retracement toward the 50-EMA support near $2503 remains the highest-probability path before any sustained continuation higher.