While the market oscillates between technical consolidation and the return of institutional appetite, an extraordinary movement attracts all attention. An actor holding more than 5 billion dollars in bitcoin redirects a major part of its capital towards Ethereum. The scale of the amounts, the transparency of on-chain transactions, and the timing of the operation are striking. More than a simple arbitrage, this strategic repositioning seems to redraw the power relations between the two historical pillars of the crypto universe.