Whale Starts Third ETH/BTC Trade of the Year After Ratio Rebounds to 0.0285

The ETH/BTC exchange ratio has rebounded over the past month from a low of 0.0252 to 0.0285. According to BlockBeats On-chain Detection, a whale that has realized cumulative gains of 6,389 ETH from two ETH/BTC ratio trades this year initiated a third trade by selling 4,695 ETH for 133.8 BTC at a ratio of 0.0285. The whale is positioning for a potential weakening in the ETH/BTC ratio, implying ETH may rise less than BTC or fall more than BTC. On-chain data indicates the whale’s first two swing trades this year involved selling ETH at higher ratio levels and buying back at lower levels, resulting in a net increase of 6,389 ETH. In early January, the whale sold 22,345 ETH for 774 BTC and later swapped back into 24,564 ETH in late January, generating a profit of 2,219 ETH. In mid April, the whale sold 24,564 ETH for 784.7 BTC and bought back 28,734 ETH in early June, adding another 4,170 ETH in profit.