Ethereum News Today: Bitcoin Whale Shifts $295M to Ethereum Amid Leveraged Bets and Seasonal Momentum

A significant Bitcoin whale—holding over 85,947 BTC for seven years—recently offloaded 670.1 BTC, worth approximately $76 million, to establish a long position in Ethereum (ETH). The whale executed four leveraged trades, acquiring 68,130 ETH at an average price of $4,300, with some positions taken using up to 10x leverage [2]. This move exposed the whale to potential liquidation risks should Ethereum’s price fall below $3,700. Indeed, the price of ETH briefly dipped to $4,080 after the trades, pushing three of the leveraged positions near their liquidation thresholds. However, the asset has since recovered, rising to $4,287 within 24 hours [2].

The whale’s Ethereum accumulation is not limited to a single trade. In a separate move, it deposited an additional 1,000 BTC—valued at $113 million—into Hyperliquid, converting it into a $240 million spot ETH position [2]. Combined with its earlier $295 million perpetual futures trade, this represents a strategic and substantial shift of capital from Bitcoin to Ethereum. The whale now holds 55,700 spot ETH, valued at over $240 million, with remaining Bitcoin holdings still worth around $167 million [2].

This move aligns with broader trends in the crypto market. Institutional investors have also been increasing their Ethereum exposure, with two wallets recently linked to the accumulation of 9,044 ETH each, and BitMine Immersion Technologies adding 52,475 ETH to its treasury [2]. Meanwhile, other long-term Bitcoin holders have also been active. A wallet containing over 80,000 BTC, held for 14 years, reactivated in July and moved funds to Galaxy Digital. Another wallet, holding 1,042 BTC valued at $123 million, reactivated after six years of dormancy [2]. Analysts suggest these movements reflect a maturing market in which early adopters are diversifying their portfolios and shifting assets into institutional platforms or new wallets [2].

The Ethereum-focused whale’s actions have coincided with strong performance from the altcoin in Q3, during which it recorded 71.91% gains compared to Bitcoin [3]. Some analysts have interpreted this as a sign of growing institutional confidence in Ethereum [2]. On-chain data also suggests a broader shift in preference among large holders and institutional investors toward Ethereum, reinforcing the narrative of “Ethereum season” gaining traction in the market [2].

Source:

[1] Cointelegraph - [https://cointelegraph.com/news/bitcoin-whale-dumps-btc-for-295m-eth-long-position](https://cointelegraph.com/news/bitcoin-whale-dumps-btc-for-295m-eth-long-position)

[2] Live Bitcoin News - [https://www.livebitcoinnews.com/bitcoin-whale-who-held-for-7-years-sells-and-goes-long-on-eth/](https://www.livebitcoinnews.com/bitcoin-whale-who-held-for-7-years-sells-and-goes-long-on-eth/)

[3] CoinJournal - [https://coinjournal.net/news/bitcoin-whale-shifts-76m-into-ethereum-with-leveraged-bets-amid-ethereum-season/](https://coinjournal.net/news/bitcoin-whale-shifts-76m-into-ethereum-with-leveraged-bets-amid-ethereum-season/)