Bitcoin-to-Ethereum swaps have surged to $177.9 million, reflecting a growing risk appetite among investors. A notable transaction involved a whale exchanging 1,969 BTC for 58,149 ETH. Despite this activity, Ethereum's price has declined to $3,045 after failing to break the $3,400 resistance level. On-chain data indicates a capital rotation from Bitcoin to Ethereum, with Ethereum's Fund Market Premium turning positive for two consecutive days. However, the Exchange Netflow for Ethereum has been negative for five days, and the Directional Movement Index (DMI) remains bearish at -3, suggesting continued market caution.