Whale executes third ETH/BTC exchange trade of 2026, selling 4,695 ETH for 133.8 BTC

HuoXing Finance reports that, as of July 5, according to EmberCN monitoring, the ETH/BTC exchange rate has rebounded from its monthly low of 0.0252 to 0.0285. A large whale who has already realized a cumulative profit of 6,389 ETH (approximately $11.34 million) in ETH-denominated terms through two prior ETH/BTC exchange rate trades this year has now initiated its third such trade today, selling 4,695 ETH at a rate of 0.0285 to acquire 133.8 BTC. This whale is betting that the ETH/BTC exchange rate will weaken going forward—meaning ETH will appreciate less than BTC or decline more than BTC. On-chain data shows that in the whale’s first two ETH/BTC swing trades this year, it sold ETH at higher exchange rates and repurchased it at lower rates, accumulating a net gain of 6,389 ETH. Specifically, in early January, it sold 22,345 ETH to obtain 774 BTC and repurchased 24,564 ETH by late January, profiting 2,219 ETH; in mid-April, it sold 24,564 ETH to obtain 784.7 BTC and repurchased 28,734 ETH in early June, earning an additional profit of 4,170 ETH.