Bitcoin Whale Shifts $295M to ETH With Leveraged Longs
A Bitcoin OG sold 660 BTC and opened $295M in leveraged ETH longs—hinting at a bold shift in market sentiment.
- BTC whale sold 660 BTC from a $1.69B stash.
- Opened $295M ETH longs across 4 wallets.
- Used 10x and 3x leverage, signaling high conviction.
Bitcoin Whale Makes a Bold Move
In a major shift that’s caught the crypto market’s attention, a Bitcoin whale—an OG wallet holding 14,837 BTC (worth approximately $1.69 billion)—has made a significant portfolio adjustment. On August 21, the wallet offloaded 660 BTC and then initiated leveraged long positions on Ethereum (ETH) worth a staggering $295 million.
The ETH longs were spread across four different wallets, using 10x and 3x leverage, which indicates not just confidence but conviction in Ethereum’s short-term upside.
Reading Between the Lines
This isn’t just another trade. When a long-time Bitcoin holder makes such a decisive move, it’s a strong signal of shifting sentiment. Selling BTC at these levels, while opening massive ETH longs, suggests the whale expects ETH to outperform BTC in the near future.
Leveraging the positions at 10x and 3x across multiple wallets may also be a way to manage risk while still gaining sizable exposure. It points to strategic execution, possibly driven by upcoming market events, Ethereum upgrades, or anticipated ETF-related news.
What It Means for the Market
The market often pays close attention to whale movements—and for good reason. Their trades can reflect deep analysis or insider-level understanding. With Ethereum now front-and-center in this whale’s strategy, traders might start reassessing ETH’s potential relative to BTC.
This move also highlights an important narrative: diversification and high-leverage plays are returning, signaling renewed confidence and risk appetite in the market.
Whether it’s a short-term play or a bigger trend shift, one thing is clear—smart money is making moves, and the rest of the market is watching closely.
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