Bitcoin News Today: Whale Shifts $3M in ETH Amid Calculated Bullish Bet on Ethereum

A whale address that conducted a BTC-to-ETH transaction in January 2025 has recently sold 3,054 ETH in a single hour, according to on-chain analytics. This activity aligns with broader market trends where institutional and large investors have been rotating assets between Bitcoin and Ethereum. Historical data indicates that similar whale behavior has influenced short-term price volatility and market sentiment.

The movement of assets by this whale mirrors transactions observed in August, when two major Bitcoin holders liquidated a combined 9,142 BTC, converting the proceeds into approximately 207,584 ETH. The total notional value of these trades amounted to roughly $1.05 billion in BTC and $986 million in ETH, with an aggregate long position in ETH perpetual contracts worth $643 million. These actions reflect strategic reallocation rather than panic selling, as the traders have maintained a bullish stance on Ethereum, evidenced by their continued long positions.

The ongoing BTC-to-ETH conversion has drawn attention from on-chain analysts, who note that whale activity remains a critical factor in shaping market dynamics. For instance, one whale rotated $2.59 billion worth of BTC into ETH, purchasing 472,920 ETH and opening a $577 million long position in ETH. These movements suggest a calculated effort to capitalize on Ethereum’s performance relative to Bitcoin, particularly amid Ethereum’s recent price resurgence.

Market observers have also highlighted a broader shift in the distribution patterns of Bitcoin. According to data from on-chain analytics platforms, 2,000 addresses now hold between 1,000 and 10,000 BTC—marking a new high for the month of August. These addresses, while not as large as the top-tier “mega” whales, still represent a significant portion of the total Bitcoin supply and have the potential to influence price through their buying or selling decisions.

Smaller hodlers, meanwhile, have continued to accumulate Bitcoin, even as larger investors take profits. On-chain data from CryptoQuant reveals that wallets holding up to 10 BTC have been steadily increasing their exposure, while those with 10–100 BTC have shown signs of profit-taking. This dynamic highlights a mixed sentiment across the investor spectrum, with larger players favoring strategic exits while retail investors remain optimistic about Bitcoin’s long-term trajectory.

Analysts remain divided on the implications of the recent whale activity. Some argue that the selling pressure from large holders is a natural part of the bull cycle and does not necessarily signal a market downturn. Others caution that the intensity of distribution—particularly in larger wallets—could signal a peak in the current bull run. As the market navigates these shifts, the coming weeks will be crucial in determining whether the recent volatility marks a temporary correction or a more sustained bearish phase.

Source: [1] The Two Bitcoin Ancient Whale sold 9142 BTC, bought ... (https://www.theblockbeats.info/en/flash/308887) [2] BTC bull run over at $111K? 5 things to know in Bitcoin this ... (https://cointelegraph.com/news/btc-bull-run-over-at-111k-5-things-bitcoin-this-week) [3] Ethereum to Bitcoin - ETH to BTC exchange rate (https://fx-rate.net/ETH/BTC/) [4] ETHBTC - Ethereum / Bitcoin Cryptocurrency Price (https://www.barchart.com/forex/quotes/%5EETHBTC)