$11B Bitcoin Whale closes $450M ETH long, scoops up $108M spot Ether

A multi-billionaire Bitcoin whale is closing his recently opened Ether long positions and buying hundreds of millions worth of spot Ether, signaling that big investors are expecting more upside from the world’s second-largest cryptocurrency.

Last week, a Bitcoin whale worth over $11 billion sold 22,769 Bitcoin (BTC) worth $2.59 billion, rotating the funds into 472,920 spot Ether (ETH) or $2.2 billion and a $577 million Ether perpetual long position on the decentralized exchange Hyperliquid, Cointelegraph reported.

On Monday, the whale closed $450…