USDT borrowing by BTC holders with over $10 million in assets surged 83% last month, signaling rising risk appetite among crypto whales. One major wallet sold 1,074.36 BTC, worth $89.5 million, to acquire 36,159 ETH, suggesting capital rotation toward Ethereum. The ETH/BTC pair gained 20% in Q3, and ETH/BTC longs are exploding on Bitfinex, with a ratio of 2.05 bullish comments to 0.82 bearish on Ethereum versus 0.82 for Bitcoin. However, Bitcoin dominance remains above 60%, making a general altcoin breakout uncertain in the short term.
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