Bitcoin News Today: Bitcoin OG's $4.38B Short Bets Clash with Ethereum's Whale Surge

High-profile Ethereum whale activity has intensified in recent weeks, with on-chain data revealing significant movements linked to entities such as Trend Research and a prominent Bitcoin whale known as "Bitcoin OG." These transactions highlight a strategic shift in capital allocation within the cryptocurrency market, particularly between Bitcoin and Ethereum.

Trend Research, a major Ethereum holder, has continued to reduce its exposure to the second-largest cryptocurrency. Over the past month, the firm transferred 143,124 ETH (approximately $642 million) to Binance for potential sale, according to on-chain analytics from Lookonchain. This follows a pattern of profit-taking by large holders, as Ethereum's price surged past $4,500 in late September. Concurrently, a new wallet (0x982) received 26,029 ETH ($116.8 million) from Kraken, while another whale (0xa312) moved 8,695 ETH ($39.5 million) from Binance, signaling a mix of accumulation and strategic positioning.

Meanwhile, a Bitcoin OG, identified as a long-standing whale, has significantly expanded its short position on Bitcoin. On-chain data from Lookonchain and Hyperliquid show the address increased its short to 3,600 BTC (around $4.38 billion), with a liquidation price near $139,900. The whale deposited 80 million USDC into Hyperliquid to execute a 6x leveraged short of 3,477 BTC ($4.19 billion), while also moving 50 million USDC to Binance for additional positions. This move contrasts with Ethereum's recent strength, where a separate whale shifted $4 billion into ETH, coinciding with Ethereum ETF inflows of $3.87 billion in August.

The interplay between these whale activities reflects broader market dynamics. Ethereum's resurgence has been bolstered by institutional adoption, with corporate holdings of ETH rising 88.3% in a month, now accounting for 66% of ETF-managed ETH assets. Bitcoin, however, faces pressure from large-scale sell-offs, with over 100,000 BTC ($12.7 billion) exiting major wallets in the past 30 days. Analysts note that Bitcoin's one-year moving average has climbed to $94,000, suggesting a potential structural uptrend, but short-term volatility remains a risk.

Market observers highlight the significance of these whale-driven shifts. The Bitcoin OG's aggressive shorting underscores bearish sentiment, while Ethereum's accumulation by large holders and ETF inflows indicate growing confidence in the altcoin's utility and network upgrades. Institutional demand for Bitcoin persists, with 14 companies increasing holdings in the past week, but the rotation into Ethereum suggests a possible reallocation of capital.

As the market navigates these developments, the actions of high-profile whales will remain a key barometer for investor sentiment. The balance between Bitcoin's resilience and Ethereum's momentum will likely shape the next phase of the crypto cycle, with on-chain activity providing critical insights into the strategies of major players.

Source: [1] What Are the Crypto Whales Betting On This Uptober? (https://finance.yahoo.com/news/crypto-whales-betting-uptober-051655055.html)

[2] Bitcoin, Ether, XRP Face September Test After Biggest Whale ... (https://www.coindesk.com/markets/2025/09/09/bitcoin-ether-xrp-face-september-test-after-biggest-whale-distribution-in-years)

[3] Ethereum Gains $4B Whale Backing, Bitcoin Sold (https://coinpaper.com/10826/4-b-whale-flip-why-ethereum-is-winning-over-bitcoin-right-now)

[4] Bitcoin Whale "Bitcoin OG" Increases Short to 3,600 BTC ($4.38B ... (https://en.coinotag.com/breakingnews/bitcoin-whale-bitcoin-og-increases-short-to-3600-btc-4-38b-liquidation-price-139900-usdc-deposits-on-hyperliquid-and-binance/)

[5] A Bitcoin OG increased his short position to 3,600 BTC, resulting in ... (https://www.panewslab.com/en/articles/f3961416-7d50-4200-8712-c8b88210590f)