Ethereum News Today: Bitcoin Whales Bet Big on ETH Amid Market Rebalancing

A prominent Bitcoin whale, who has held Bitcoin for over seven years, recently moved $295 million from Bitcoin to Ether (ETH), opening a leveraged long position. The whale sold 670 Bitcoin for approximately $76 million and used the funds to accumulate 68,130 Ethereum tokens across four positions. Three of these positions were on 10x leverage, while one was on 3x leverage. The Ethereum was purchased around the $4,300 price level, but the price has since dropped, reaching a low of $4,080. This drop has placed three of the whale’s positions near liquidation levels, with only a small buffer remaining before liquidation would occur. The current ETH price is $4,287, with a 2.9% increase in the last 24 hours. Analysts have noted that the whale’s move reflects a broader trend of Bitcoin holders diversifying into Ethereum as the asset approaches its 2021 high [1].

Institutional interest in Ethereum has also been on the rise. Two institution-linked wallets recently accumulated 9,044 Ethereum tokens each, worth approximately $38 million. Additionally, BitMine Immersion Technologies, a publicly traded Bitcoin company, added 52,475 Ethereum tokens to its treasury, bringing its total holdings to 1.52 million tokens valued at $6.6 billion. These institutional moves indicate growing confidence in Ethereum as a long-term asset, despite short-term price volatility [1].

The whale activity is part of a larger shift in the crypto market. Over the past month, several Bitcoin whales have moved their holdings. One whale with 80,201 Bitcoin, dormant for 14 years, transferred its holdings to Galaxy Digital. Another smaller whale moved 1,042 Bitcoin, worth $123 million, to a new wallet. These movements reflect a broader trend of whales adjusting their portfolios, as highlighted by crypto analyst Willy Woo, who noted that whales holding over 10,000 Bitcoin have been selling steadily since 2017. Despite these sales, analysts have emphasized that this activity is a sign of a maturing market, with new buyers stepping in to absorb the supply [1].

Meanwhile, another Ethereum whale has taken a bold position, opening a $16.35 million long using 25x leverage. The whale entered the position at $4,229.83 per ETH, and the position is already slightly in profit as the price hovers near $4,240. A 1% increase in the price of Ethereum would result in over $163,000 in profit. Technical indicators also support the trade, with liquidation heatmaps showing a cluster of short liquidations near $4,300–$4,360. This level is considered a potential support area, and reaching it could significantly boost the whale’s unrealized gains [2].

Ethereum’s price action suggests a possible rebound from recent lows. The asset is currently holding above its 20-day exponential moving average, which has served as support since July. Additionally, the price has formed a falling wedge pattern on the daily chart, a classic bullish reversal setup. If this pattern holds, Ethereum could see a move toward $4,750, a 13% increase from its current level. However, a close below $4,140 would invalidate the bullish case. On the weekly chart, Ethereum is retesting a key support level that has previously acted as resistance, further supporting the argument for a potential rebound [2].

Despite the recent pullback, institutional demand for Ethereum remains strong. Data from Arkham Intelligence shows that two new whale accounts purchased nearly $200 million worth of Ethereum over the past 24 hours, signaling growing confidence in the asset. These purchases align with a broader trend of institutional investors and large funds adding Ethereum to their treasuries. This accumulation is seen as a structural bullish factor, as it reduces exchange supply and increases long-term demand. Analysts argue that these whale movements are a sign of strategic positioning ahead of potential rallies, reinforcing Ethereum’s role as a key asset in the crypto market [4].

Source: [1] Bitcoin Whale Shifts to ETH With $295 Million Long Position (https://cointelegraph.com/news/bitcoin-whale-dumps-btc-for-295m-eth-long-position) [2] Ethereum Whale Opens $16.3M Long as ETH Price Eyes Bounce (https://cointelegraph.com/news/ethereum-whale-opens-16-3m-long-as-eth-price-eyes-bounce) [3] Asia Morning Briefing: BTC Demand Cools While 'Crypto Capital Is Getting More Selective' - OKX's Gracie Lin Warns (https://www.coindesk.com/markets/2025/08/21/asia-morning-briefing-btc-demand-cools-while-crypto-capital-is-getting-more-selective-okx-s-gracie-lin-warns) [4] Ethereum Demand Holds Despite Pullback: New Whales Accumulate $200M (https://www.mitrade.com/insights/news/live-news/article-3-1055370-20250820)