According to the latest data from blockchain analytics platform Hyperinsight, a whale known by the moniker 'BTC OG' offloaded a significant amount of ETH long positions in multiple transactions on January 27.
Why is the whale scaling back now?
The whale sold off a total of 14,000 ETH within one hour, equating to tens of millions of dollars at current prices. Despite this reduction, it still holds a massive 192,752 ETH in long positions, valued at approximately $560 million, signaling continued confidence in BTC.
- Timing: January 27, with multiple trades executed within one hour
- Position reduction: 14,000 ETH in total
- Remaining holdings: 192,752 ETH, worth around $560 million
Market analysts suggest that while the whale has lightened its ETH exposure, the substantial remaining position indicates this is likely a strategic adjustment rather than a full retreat.