Woofun AI reports that a significant bearish divergence has emerged in the ETH/BTC pair, driven by address 0x4555, a trader tracked by EmberCN. This entity has deployed capital to bet against Ethereum’s recent momentum, signaling an expectation of relative underperformance against Bitcoin.

The specific mechanics of this position involve a short sale of 13,708 ETH, equating to approximately $25 million in notional value. The average entry price was established at 0.02855 BTC per ETH, positioning the trade just above the current market rate of 0.028519 BTC.

Woofun AI data shows the trader’s historical performance includes accumulated profits of 6,475 ETH, valued at roughly $11.78 million. This track record suggests a disciplined approach to timing the ETH/BTC ratio, which measures Ethereum’s strength relative to Bitcoin.

The current ratio trading below the entry point indicates immediate unrealized gains for the short position.

Structurally, this move reflects a broader skepticism toward Ethereum’s near-term trajectory compared to Bitcoin, potentially influenced by upcoming macroeconomic events. While the whale’s past success adds weight to the signal, such large positions represent a single viewpoint in a complex market and should be interpreted with caution.