Ethereum News Today: Bitcoin Giants Are QuietlyBacking Ethereum's Rise

Large-scale movements by crypto “whales” have triggered a notable shift in capital from Bitcoin to Ethereum, with over $2.6 billion in Bitcoin recently converted into Ethereum-based positions by a prominent long-term holder. This whale, who has held 100,784 BTC since seven years ago, has actively redeployed capital through spot and derivatives markets, purchasing 472,920 ETH and opening a 135,265 ETH long position. The whale has since partially closed part of this long and converted those profits into additional spot ETH purchases. As of the most recent move, the whale still maintains a significant 40,212 ETH long, worth approximately $184 million, with unrealized gains of $11 million [5].

This activity aligns with broader market trends showing increased inflows into Ethereum relative to Bitcoin. In August alone, Ethereum ETFs have seen stronger inflows compared to Bitcoin ETFs, with over $2 billion in Ethereum spot and staking purchases reported by whale activity. These moves reflect a growing institutional conviction in Ethereum, fueled by factors such as the potential for ether ETF staking approvals and Ethereum's expanding role in decentralized finance (DeFi) and smart contract innovation [5].

Market data also shows Ethereum outperforming Bitcoin in recent months, with ETH gaining approximately 20% over the past 30 days compared to a 6% decline for Bitcoin. The ETH/BTC ratio, which has been at a localized low, is now signaling a potential rebound, as noted by market makers and analysts. This shift is further supported by stronger fundamentals, including the adoption of global stablecoin usage and clearer regulatory frameworks for crypto assets [3].

Bitcoin, meanwhile, has shown signs of weakening momentum. The price has declined from a recent high of $124,500 to below $115,000, with analysts pointing to thin liquidity and ETF outflows as contributing factors. A major whale reportedly sold 24,000 BTC over the weekend, triggering a cascade of liquidations and a sharp sell-off in the market. This move exposed the fragility of the current market structure, with Bitcoin’s dominance index currently at 57.94%, down from 61% at the beginning of the month [7].

Retail traders have also been affected by the volatility, with $940 million in liquidations reported across the Bitcoin market in recent days. These liquidations were primarily driven by leveraged long positions being unwound as prices dipped below key support levels. Meanwhile, Ethereum has seen accumulation rather than distribution from large investors, with the average 50-day volume of transfers of $100,000 or more in Dogecoin and Ethereum surging to a five-month high [2].

The growing institutional interest in Ethereum has been further reinforced by recent developments, including Grayscale’s application for a spot Dogecoin ETF and the acquisition of Dogehash Technologies by a company backed by the Trump family. These events suggest that Ethereum and other altcoins may continue to attract capital inflows as investors seek exposure to a more diverse and innovative crypto ecosystem [2].

Looking ahead, analysts remain cautious about Bitcoin’s ability to regain its previous momentum unless it can successfully defend the 200-day moving average around $111,500. A break below this level could trigger further selling pressure, potentially pushing prices toward the $108,000–$110,000 range. Meanwhile, Ethereum is expected to remain in focus, with Polymarket odds of the token reaching $5,000 this month rising to 26% from 16% just a few days ago [3].

Source: [1] Crypto Whales Are Moving Again - Stablecoin Inflows Point ... (https://coindoo.com/crypto-whales-are-moving-again-stablecoin-inflows-point-to-bitcoin-buying-power/) [2] "Whales" continue to buy DOGE on the decline. ... (https://happycoin.club/en/kity-prodolzhayut-skupat-doge-na-spade-zhdyot-li-memkoin-otskok-czeny/) [3] Asia Morning Briefing: ETH Bulls Eyeing $5K as Flows ... (https://www.coindesk.com/markets/2025/08/27/asia-morning-briefing-eth-bulls-eyeing-usd5k-as-flows-strengthen) [4] Asia Crypto News: BTC Fragility and ETH Rotation Signal ... (https://www.coindesk.com/markets/2025/08/26/asia-morning-briefing-btc-fragility-and-eth-rotation-signal-market-bracing-for-consolidation-without-new-liquidity) [5] OG Whale Flips $2.6B Bitcoin Into Ethereum Positions (https://www.mitrade.com/insights/news/live-news/article-3-1067790-20250826) [6] What are the implications of recent whale activity on Bitcoin ... (https://www.onesafe.io/blog/whale-activity-bitcoin-ethereum-implications) [7] Bitcoin slips to $112700 amid continued whale migration to ... (https://www.theblock.co/post/368060/bitcoin-under-112700-whale-migration)