Bitcoin News Today: Bitcoin Whales Bet Big on ETH, Triggering a High-Stakes Rebalance

A major Bitcoin whale with a long-held position of 14,837 Bitcoin, valued at over $1.6 billion, has recently sold 670 BTC for $76 million to open a long position in Ethereum. This move aligns with a broader trend of Bitcoin whales diversifying into Ethereum, particularly following Bitcoin's recent all-time high of $124,128 on August 14, 2025. The whale's Ethereum positions were established at around $4,300 per ETH, with the majority of the 68,130 ETH purchased on 10x leverage. However, following the purchase, ETH prices fell to $4,080, putting three of the positions near liquidation levels [1].

The whale's Ethereum positions are now at risk as the price of ETH fluctuates. Ether is currently trading at $4,287, up 2.9% in the last 24 hours, but the price drop shortly after the whale’s purchase has resulted in significant losses on leveraged positions. Three positions are just $300 away from their liquidation thresholds, indicating high exposure to market volatility [1]. This whale movement has also influenced Ethereum’s broader market dynamics, with several large holders responding to the dip by either selling or accumulating ETH. Two institution-linked wallets have added 9,044 ETH each, valued at $38 million, to their holdings, while BitMine Immersion Technologies, a publicly traded Bitcoin company, added 52,475 ETH to its treasury, increasing its total holdings to 1.52 million tokens worth $6.6 billion [1].

The shift in whale strategy has not been isolated to a single actor. A separate Bitcoin whale with 80,201 tokens, dormant for 14 years, has started transferring funds to Galaxy Digital, and another smaller whale with a $123 million BTC holding also activated a wallet after six years of inactivity. These movements suggest a broader trend of long-term Bitcoin holders reassessing their strategies amid increased institutional interest and market volatility [1]. Analyst Willy Woo noted that whales holding more than 10,000 BTC have been steadily selling since 2017, but industry experts argue that selling activity by OG Bitcoiners is a natural part of market maturation, with new buyers stepping in to absorb the supply [1].

The exchange rate between Bitcoin and Ethereum is currently at 1 BTC to 24.4699 ETH, according to CoinGecko. Over the past month, Bitcoin has underperformed against Ethereum, with the BTC/ETH exchange rate declining by 25.10%, while the broader crypto market gained 3.10% [2]. Historical data shows the 7-day price range fluctuated between ETH27.674374 on Wednesday and ETH24.469874 on Saturday, with the largest 24-hour drop occurring on Saturday, where the rate fell by 7.4% [2]. The BTC/ETH rate has been declining for the past month, with the current rate significantly below the all-time high of ETH624.2027 for 1 BTC [2].

The ongoing Bitcoin to Ethereum conversion reflects broader capital reallocation within the crypto market. While the whale’s move to Ethereum highlights a shift in asset preference, it also underscores the risks of leveraged positions in a highly volatile market. The market remains in flux as institutions and long-term holders navigate the interplay between Bitcoin’s dominance and Ethereum’s growing appeal. This whale’s activity, along with institutional accumulation, may indicate a more diversified and maturing crypto market, but with current leverage levels and price volatility, the potential for further market corrections remains a key concern [1].

Source:

[1] Bitcoin Whale Shifts to ETH With $295 Million Long Position (https://cointelegraph.com/news/bitcoin-whale-dumps-btc-for-295m-eth-long-position)

[2] BTC to ETH: Bitcoin Price in Ether (https://www.coingecko.com/en/coins/bitcoin/eth)