Everyone is underestimating the impact of this ETHBTC whale 🗡 So far, this whale has sold 30,110 $BTC ($3.267 billion) and bought 740,566 ETH ($3.258 billion), all within 10 days. They still hold 52,816 $BTC ($5.73 billion), which is gradually being transferred to Hyperliquid in exchange for more ETH. I think we can all agree that much of the $BTC decline over the past 10 days can be attributed to this whale's selling, especially in the fragile market conditions of summer. This situation is quite similar to last summer in terms of price action, when BTC hit a bottom in the early weeks of September and surged in Q4. However, the difference now is that there is an unusual amount of buying pressure on $ETH throughout the general market decline, building a floor with billions of dollars in buying pressure. Many expect $ETH to drop significantly more with the $BTC decline, but thanks to the continuous conversion of BTC to ETH by this whale, the drops have become minimal. And because of this, if this whale's remaining $BTC conversion to $ETH continues, the sub-$4,000 buyback targets that many are posting could be preempted in early September. If this is a sign that a bottom is forming in early September, this ETHBTC whale could single-handedly keep the DAT fees of $ETH from dropping too low, or even raise them to some extent. To say "this time is no different" would be incorrect; we have never seen such a rapid shift on this scale, while ETHBTC is breaking a 3000-day downtrend.