Table of Contents
Key Takeaways
- A dormant Bitcoin whale moved $1.1 billion BTC and resumed Ethereum purchases.
- The whale previously bought $2.5 billion ETH, driving speculation about7 market impact.
- Analysts suggest activity may involve multiple whales or institutions.
Bitcoin Whale Inactive for 7 Years Mars hibernation with Large Moves
One Bitcoin whale has just awakened from a seven-year slumber and made significant movements with over $1 billion in Bitcoin. Last Friday, onchain data reveals the whale shifted 1.1 billion dollars’ worth of Bitcoin to a new wallet and restarted his Ethereum buying.
According to Arkham Intelligence, the onchain data revealing analysis firm, a Bitcoin holder with a wallet balance of more than five billion dollars just made the transfer and started the ETH purchase. According to reports, it happened only a week after the same account bought $2.5 billion worth of ETH via Hyperunit/HL.
The return of this whale has triggered all sorts of speculation among the masses and traders who point out that this event can affect Bitcoin and Ethereum price action.
Bitcoin Flows Halt and Direct to Ethereum
Lookonchain reported the same as the above information was on the blockchain. The whale deposited 1,000 BTC (worth $108.27 million) into Hyperliquid, then sold it and bought ETH unconditionally representing a fresh start of activity. There had been an accumulation in the last few weeks of 641,508 ETH ($2.94 billion).
The market seems to react to this capital turnover. The last month’s data shows that the price of Bitcoin has dropped by 8%, while AWS shot up by 14%. Experts are of the view that the whale’s loud ETH purchase coincides with institutional interest in Ethereum-based financial products.
Spot ETH exchange-traded funds located in the U.S. should register a net inflow of $4 billion in August, the second-largest monthly total they have ever had, according to pre-orders. As a result, ETH receives its strongest narrative as investors’ interest shifts from Bitcoin to it.
Industry Perspectives: Whale or Institutions?
The magnitude of these transactions has led to speculation about the actuality of the moves being due to a single whale. Vincent Liu, CIO of Kronos Research, brought up the idea that the trend may be indicating the presence of multiple large holders or institutional entities rather than a single individual.
“It is more plausible that it is the handiwork of severalq whales or a substantial exchange with very large holdings,” said Liu. “These types of large-scale movements are not only from institutional players but sometimes also from players that act in a coordinated manner.”
If the institutions are behind the operations, then the flows may be indicative of portfolio rebalancing strategies and the timing would be in line with the wider market trends, including the rising need for ETH-based investment vehicles and the increasing popularity of Ethereum in DeFi and tokenization projects.
Market Reaction and Broader Implications
Information as of Friday afternoon indicated that Bitcoin was priced at $108,702.57, while a single Ethereum was bought for $4,341.20. The diverging performances of the two assets illustrate how changes in BTC and ETH holdings can have a ripple effect on market mood.
In the case of Bitcoin, the whale’s sales have contributed to the bear forces at a moment when the market is stabilizing after a sharp rally at the beginning of the year. On the other hand, Ethereum looks to be catching the sunrays of both the whale’s buying and the general demand factors, like ETF inflows and the green light of the ecosystem upgrade.
The whale’s history before that throws in another level of fascination. It was reported by Lookonchain that the same account had changed a portion of its 100,784 BTC to get 62,914 ETH and set up a 135,265 ETH derivatives long position. One such move shows the belief in Ethereum’s short-term future.
Market strategists suggest that if ETH continues to outperform, it could challenge Bitcoin’s dominance as the primary digital asset in institutional portfolios.
Summary
The reawakening of a long-dormant Bitcoin whale has captured global attention, with billions of dollars moving between BTC and ETH. The whale’s transfer of $1.1 billion in Bitcoin and renewed Ethereum accumulation adds momentum to an already dynamic market, where Ethereum is gaining strength amid surging ETF inflows and broader adoption.
While some believe the activity belongs to a single whale, others argue it likely reflects institutional strategies or coordinated players. Regardless, the shift underscores a broader trend of capital rotation that is reshaping the balance of power between the two largest cryptocurrencies.
As Ethereum’s fundamentals continue to strengthen and Bitcoin faces short-term pressure, the whale’s moves may foreshadow a deeper structural shift in how investors allocate capital across digital assets.
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