According to @EmberCN, citing @zachxbt, the address that has been swapping large amounts of BTC to ETH in recent days is a hacker moving stolen funds. Source: https://twitter.com/EmberCN/status/2012333238665285725, https://twitter.com/zachxbt The attacker stole 2.05 million LTC and 1,460 BTC on Jan 10 with an estimated value of about $294 million, and most of the stolen coins were subsequently converted in recent days, primarily from BTC into ETH. Source: https://twitter.com/EmberCN/status/2012333238665285725, https://t.co/DLJyUI5ud9 This links recent BTC-to-ETH on-chain flows directly to stolen coins, a trading-relevant detail for desks monitoring cross-asset crypto flows in BTC, ETH, and LTC. Source: https://twitter.com/EmberCN/status/2012333238665285725