According to @lookonchain, a whale exchanged 1,466 BTC valued around USD 132M now for 43,649 ETH valued around USD 139M now over the past 16 days, indicating a large BTC to ETH rotation based on on-chain traces (source: https://twitter.com/lookonchain/status/1998973903436394743). The swaps are traceable via the THORChain swap address 0x9F619C4F0E0519ead0aA4F35ceA7aF313D35A87c (source: https://thorchain.net/address/0x9F619C4F0E0519ead0aA4F35ceA7aF313D35A87c). Related wallet activity is visible on Arkham Intelligence at 0x9F619C4F0E0519ead0aA4F35ceA7aF313D35A87c and 0x7Cb55E2503877fb46d8b30ff6Bb4735Ffcc17dfc (source: https://intel.arkm.com/explorer/address/0x9F619C4F0E0519ead0aA4F35ceA7aF313D35A87c and https://intel.arkm.com/explorer/address/0x7Cb55E2503877fb46d8b30ff6Bb4735Ffcc17dfc). Based on the reported unit counts, the flow implies roughly 29.8 ETH per BTC and a combined current notional near USD 271M, derived from the same figures shared by @lookonchain (source: https://twitter.com/lookonchain/status/1998973903436394743).