The whale has recently continued to exchange ETH for USD worth of WBTC, with the rebalancing scale exceeding 69 million.

BrokenDAO · 2026-01-21T20:01:13+00:00

On-chain analyst Yu Yan has detected that a whale whale is gradually converting Ethereum into WBTC within the Bitcoin ecosystem. In recent days, the whale has converted 21,973 ETH into 761.4 WBTC, reflecting optimism about Bitcoin. Currently, the whale only has 370 ETH remaining, indicating a clear shift in asset allocation preference.

BrokenDAO

2026-01-21 20:01:13

Abstract generation in progress

According to the latest monitoring by on-chain analyst Yu Jin, a large holder is continuously adjusting their assets, shifting Ethereum to the Bitcoin ecosystem. This market participant recently demonstrated this strategy again—in the past hour, they exchanged 7,828 ETH (worth $24.6 million) for 269 WBTC.

Whale’s Rebalancing Trajectory

The scale of this holder’s rebalancing plan is quite significant. According to monitoring data, over the past few days, this whale has gradually converted 21,973 ETH (equivalent to approximately $69 million) into 761.4 WBTC. This systematic asset shift indicates that the holder is optimistic about Bitcoin-related assets. Based on average acquisition costs, the average price of these WBTC is as high as $90,491.

Current Position Structure

After completing a series of ETH exchanges for dollar-equivalent assets, this whale’s asset allocation structure has changed noticeably. Currently, the remaining ETH held by this large holder is only about 370, valued at approximately $1.16 million at the latest prices. This means that the vast majority of ETH assets have been converted into WBTC, reflecting this market participant’s clear asset allocation preference in the current market environment.

On-chain large holder rebalancing behavior often reflects structural market changes. This series of ETH to dollar-equivalent WBTC exchanges may indicate a new wave of optimism among seasoned market participants towards the Bitcoin ecosystem.

ETH1,67%

WBTC1,01%

BTC1,03%

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