Bitcoin News Today: Long-Term Bitcoin Whale Shifts $76M to Leveraged Ethereum Position

Generated by AI AgentCoin World
Thursday, Aug 21, 2025 5:56 am ET1min read
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Aime RobotAime Summary

- A long-term Bitcoin whale sold 670.1 BTC ($76M) to open a 10x leveraged $295M Ethereum long position, marking a rare strategic shift after seven years of holding.

- The move contrasts with three other whales who panic-sold 34,500 ETH ($148M) during the recent market downturn, highlighting divergent crypto whale strategies amid volatility.

- Analysts note the trade reflects confidence in Ethereum's post-upgrade potential but caution it should not be interpreted as a broad market trend indicator.

A long-term

Bitcoin
holder, known for maintaining a seven-year “diamond hands” position, has recently sold a portion of his BTC holdings and used the proceeds to take a leveraged long position in
Ethereum
. According to on-chain analytics from Lookonchain, the whale—holding 14,837 BTC (approximately $1.69 billion)—sold 670.1 BTC (valued at $76 million) over a 20-hour period [1]. The sale was conducted through Hyperliquid, after which the funds were converted into a long Ethereum position [1].

The whale allocated the BTC proceeds into a large ETH long position, totaling 68,130 ETH, worth around $295 million at the time of the trade. The long positions were distributed across four wallets, with most of the trades executed at a price of $4,300 per ETH, utilizing 10x leverage [1]. This strategic shift from Bitcoin to Ethereum comes amid a broader market correction that has impacted both BTC and altcoins.

Notably, this whale’s move contrasts sharply with the behavior of three other large holders, who engaged in panic selling during the recent market downturn. Collectively, they sold 34,500 ETH—valued at around $148 million—suggesting varied strategies among major crypto players during volatile periods [1].

This whale’s decision to unwind its long-held Bitcoin position after seven years is a rare and significant event in the crypto market. It reflects a shift in strategy amid evolving market conditions and the potential for Ethereum’s growth, particularly following recent upgrades that have boosted its network capabilities and transaction efficiency. However, the move does not necessarily indicate a broader trend among crypto whales, as on-chain activity shows a range of responses, including panic selling and continued long-term holding [1].

Analysts often track such whale movements as they can influence investor sentiment and short-term price dynamics. However, it is essential to distinguish between individual whale actions and broader market forecasts. The whale’s shift to Ethereum is a strategic move rather than a predictive signal of the broader market’s future direction [1].

Source:

[1] The "Diamond-Handed" Giant Whale Unwounds His 7-Year Bitcoin Stash! He Sold BTC and Opened a Long Position in This Altcoin!

https://en.bitcoinsistemi.com/the-diamond-handed-giant-whale-unwounds-his-7-year-bitcoin-stash-he-sold-btc-and-opened-a-long-position-in-this-altcoin/