Ethereum News Today: Bitcoin Whale Shifts $1.69B to Ethereum Amid Bullish Bet on Altcoin

A Bitcoin whale with a 7-year-old wallet holding 14,837 BTC, valued at approximately $1.69 billion, recently executed a significant portfolio shift by selling 670.1 BTC—worth $76 million—and opening long positions in Ethereum totaling 68,130 ETH, valued at around $295 million. This activity occurred over 20 hours on the Hyperliquid platform, where the whale deposited and sold BTC before acquiring ETH across four wallets. The move suggests a strategic reallocation of capital from Bitcoin to Ethereum amid fluctuating market conditions and potential bullish expectations for the altcoin [5].

This whale is not the only large holder shifting its position. The investor continued to accumulate Ethereum, selling an additional 3,142 BTC—worth $356.47 million—over the last two days and converting the proceeds into 55,039 ETH through spot trading and a total long position of 135,265 ETH. Three of the five long positions are currently in profit, with one holding an unrealized gain of over $2 million [3]. The whale also diversified its approach by switching to spot ETH purchases and using leverage, depositing 19,794 ETH and an additional $20 million in USDC to increase exposure with a 6x leverage [5].

The whale’s actions mirror broader institutional and on-chain trends. Over a 48-hour period, five newly created wallets accumulated 19,332 ETH, valued at approximately $92 million, indicating a surge in whale-level buying activity. The wallets, identified by on-chain analytics firm Lookonchain, include addresses such as 0xDda8E9405CFd9Cdc3D32f2c87a7d01909c5d5A5c and others. These accumulations occurred amid Ethereum’s recent price fluctuations, with ETH trading around $4,500 to $4,800. Analysts suggest that large-scale accumulations like these can signal potential upward price pressure, especially when correlated with broader market trends [4].

Ethereum has seen a broader rally recently, hitting an all-time high of $4,945. This record was driven by institutional tailwinds, including strong inflows into U.S. spot Ethereum ETFs, which have seen over $6.7 billion in net inflows year-to-date. The ETFs, now past their initial launch volatility, have provided a regulated vehicle for institutional investors to gain exposure to Ethereum, further solidifying its role in the digital-asset stack. Corporate treasuries have also increasingly accumulated ETH, offering a new source of structural demand [2].

Analysts have also highlighted the importance of the ETH/BTC ratio in understanding the relative strength of Ethereum compared to Bitcoin. A Bitcoin whale’s recent actions align with a broader thesis that Bitcoin tends to lead in market cycles, with Ether following as liquidity rotates. The whale’s decision to go long on Ethereum reflects a belief in the altcoin’s potential outperformance as liquidity shifts and macroeconomic factors, such as declining interest rates, support risk-on sentiment. This view is reinforced by Ethereum’s programmability, which allows it to serve as a settlement layer for stablecoins, tokenized funds, and staking yields—features that distinguish it from Bitcoin’s store-of-value narrative [2].

While the whale’s activities and broader institutional inflows are bullish for Ethereum, several risks remain. Volatility in the crypto markets means that large liquidation zones can trigger sharp price corrections. Additionally, macroeconomic developments, such as unexpected inflation data or hawkish central bank signals, could dampen risk appetite and pressure Ethereum’s price. Furthermore, the recent ETF inflows, while currently strong, could reverse under regulatory or market pressure, affecting Ethereum’s price trajectory [2].

At press time, Ethereum traded at $4,280, showing continued consolidation around key support levels [3]. Traders and analysts are closely monitoring on-chain metrics, including active addresses and transaction volumes, to gauge the sustainability of the current rally. The whale’s accumulation and institutional flows suggest Ethereum is positioning itself for a potential breakout, but market participants must remain cautious given the inherent volatility and macroeconomic uncertainties.

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