Bitcoin News Today: Bitcoin's Whales Spark Market Panic, Triggering $2.7B Flash Crash and ETH Exodus

Bitcoin's price fell sharply to $110,500 over the weekend following a significant sell-off of 24,000 BTC by a large whale, which triggered a flash crash. The transaction, reportedly worth $2.7 billion, was executed by a single entity that had held the coins for over five years. This dump sent shockwaves through the market, sparking a cascade of panic selling among other traders and exacerbating the downturn. According to on-chain analyst Sani, the whale moved the coins to the Hyperunite platform, and continued selling activity suggests further downward pressure on Bitcoin’s price is likely [1].

The price decline was not an isolated event, as larger market dynamics are also influencing Bitcoin’s trajectory. Notably, major whales—holders who peaked their BTC acquisitions in 2011—continue to offload their holdings, which were initially purchased at significantly lower prices. Analyst Willy Woo explained that each BTC sold at $110k+ requires fresh capital to absorb, creating a bottleneck for price appreciation. This dynamic highlights the role of whale activity in shaping Bitcoin’s price behavior [1].

Meanwhile, a shift in asset allocation has been observed, as some Bitcoin holders are rotating their positions into Ethereum. A whale recently sold 18,142 BTC, valued at $2.04 billion, and reinvested a significant portion into ETH, with over 275,500 ETH staked. This trend underscores growing institutional and corporate interest in Ethereum, driven by factors such as regulatory clarity and the ability to earn staking rewards. Another whale recently sold 670 BTC worth $76 million to open a long ETH position, further emphasizing the movement of capital away from Bitcoin [1].

Bitcoin’s recent performance has been marked by volatility, with its price slipping below $112,700 amid ongoing whale activity. The RSI-7 indicator currently stands at 40.72, signaling an oversold condition but not a reversal. Analysts, including Alex Krüger of Aike Capital, suggest that a short-term correction is underway, and Bitcoin could stabilize and begin to rise once it moves above the $113,500–$114,000 range. Vijay Boyapati, another market commentator, views the current environment as part of a broader monetization cycle, where whale selling is a natural and necessary step for full asset realization [1].

In a related development, Metaplanet, a Tokyo-listed company that has rebranded as a leading Bitcoin treasury firm, was upgraded to mid-cap status and added to the FTSE Japan Index following a strong Q2 performance. This inclusion is expected to attract passive capital flows into Bitcoin, indirectly boosting demand for the cryptocurrency. Metaplanet’s Bitcoin holdings have grown to 18,991 BTC as of the latest report, and the company remains on track to reach its goal of holding 210,000 BTC by 2027. The company’s strategic expansion and financial performance have outpaced traditional Japanese blue-chip stocks, positioning it as a key player in the Bitcoin adoption narrative [4].

Source:

[1] Bitcoin Whale Sells 24,000 BTC Triggering Flash Crash, Still Holds Over $17B Worth BTC (https://finance.yahoo.com/news/bitcoin-whale-sells-24-000-061435431.html)

[2] Crypto Market Today (https://www.cnbc.com/2025/08/24/crypto-market-today.html)

[3] Bitcoin Under $112,700: Whale Migration to Ethereum (https://www.theblock.co/post/368060/bitcoin-under-112700-whale-migration)

[4] Metaplanet Added to FTSE Japan and All-World Stock Indices (https://cointelegraph.com/news/metaplanet-added-ftse-japan-all-world-stock-indices)

[5] Metaplanet Joins FTSE Japan Index, Continues to Stack Bitcoin (https://finance.yahoo.com/news/metaplanet-joins-ftse-japan-index-063327830.html)