After a major whale lost $3.7 million on a Bitcoin long position, they purchased 10,000 ETH and converted them to stETH.

Foresight News reported, according to Onchain Lens monitoring, a certain whale suffered a $3.7 million loss on a Bitcoin long position, withdrew all funds, and deposited 31.7 million USDC to Wintermute to purchase 10,000 ETH. Subsequently, the whale converted the ETH to stETH and sent it to another wallet address holding 40,060 stETH (approximately $126 million).