Ethereum News Today: Ethereum Steals the Spotlight as Bitcoin Whales Shift Billions

Bitcoin fell below $113,000 amid continued large-scale movements by significant holders shifting their positions from Bitcoin to Ethereum. The price decline was attributed to a major whale rotating over $2 billion worth of Bitcoin into Ether, triggering a cascade of sell orders and a flash crash. The move pushed Bitcoin down nearly 2.2% in under an hour, while Ether also fell by 4% during the same period. However, both assets partially recovered from the losses, with Bitcoin settling at around $112,600 and Ether trading near $4,712 [1].

The whale in question transferred 24,000 BTC ($2.7 billion) across multiple wallet addresses over nine days, with nearly all of that amount sold and converted into 416,598 ETH. The whale also staked 275,500 ETH (worth around $1.3 billion) and longed 135,263 ETH on Hyperliquid, effectively positioning itself to profit from the ETH/BTC trade. According to crypto analyst MLM, this strategy allowed the whale to secure a $185 million profit before initiating a reversal of its long positions, which triggered further sell orders as traders caught on to the whale's strategy [1].

The migration of capital from Bitcoin to Ethereum reflects a broader trend in the crypto market. Institutional and corporate actors have increasingly turned to Ethereum, with spot ETFs showing stronger inflows than their Bitcoin counterparts in recent weeks. Ethereum’s price surged above $4,900 on multiple occasions, breaking through its previous all-time high set in November 2021. Analysts pointed to growing demand for Ethereum-based staking and regulatory clarity from the SEC as key drivers of the recent outperformance [4].

Bitcoin dominance has dipped from around 61% at the start of August to 57.94%, signaling a shift in investor sentiment toward altcoins, particularly Ethereum. The movement has coincided with declining exchange reserves for Ether, suggesting reduced supply available for immediate selling and potentially supporting higher prices. Meanwhile, Bitcoin’s rally has stalled near recent highs, with some analysts noting that its momentum has weakened compared to Ethereum’s [3].

The shift from Bitcoin to Ethereum is not limited to a single whale. Another major holder recently sold 670 Bitcoin ($76 million) to open a long position in Ether, reinforcing the trend. Ethereum’s price has risen by more than 220% since hitting a low of $1,471 in April, reclaiming ground from earlier in the bull cycle when Bitcoin and Solana led the market. With Ethereum ETF staking approval anticipated, further inflows and increased staking activity are expected to boost Ethereum’s performance [1].

The market is now closely watching for signs of further whale activity and macroeconomic data, such as initial jobless claims, to gauge the next direction for Bitcoin and Ethereum. While Bitcoin faces a potential retest of the $100,000 level, Ethereum appears to be consolidating its position as a leading asset in the crypto space. Analysts suggest that continued corporate accumulation and favorable regulatory developments could support Ethereum’s upward trajectory, while Bitcoin’s price remains vulnerable to large-scale sell-offs from major holders [2].

Source:

[1] What Would Happen If Bitcoin Totally Crashed? (https://finance.yahoo.com/news/happen-bitcoin-totally-crashed-212409834.html)

[2] Bitcoin under $112,700 amid continued whale migration to Ethereum (https://www.theblock.co/post/368060/bitcoin-under-112700-whale-migration)

[3] As ETH breaks above USD 4,900, analyst sums up crypto market: 'BTC is exhausted, ETH isn’t' (https://www.coindesk.com/markets/2025/08/24/as-eth-breaks-above-usd4-900-analyst-sums-up-crypto-market-btc-is-exhausted-eth-isn-t)

[4] Ethereum jumps to record price, surpassing 2021 high (https://finance.yahoo.com/news/ethereum-jumps-record-price-move-184709473.html)