Bitcoin Whale Sells $76M BTC, Goes Long on $295M ETH
A crypto whale sold $76M in BTC and opened $295M in ETH longs, signaling a major strategic shift.
- Whale sold 670.1 BTC worth $76M on Hyperliquid.
- Reallocated $295M into 68,130 ETH long positions.
- Strategy suggests growing confidence in Ethereum.
Whale Moves $76M Out of Bitcoin
In a surprising and strategic move, a Bitcoin OG — known for holding 14,837 BTC (worth over $1.69 billion) — sold 670.1 BTC (approximately $76 million) in the past 20 hours. The sale was made through Hyperliquid, a popular decentralized derivatives exchange. This kind of high-volume activity by a known long-term holder caught the attention of the crypto community and analysts alike.
The sale marks one of the largest recent BTC offloads by a single entity and may suggest a shift in sentiment or a recalibration of market strategy.
$295M ETH Longs Across Four Wallets
Shortly after the BTC sale, blockchain data revealed that the same entity opened massive long positions on Ethereum — totaling 68,130 ETH (valued at around $295 million). These positions were distributed across four wallets, indicating a well-coordinated and possibly long-term bet on Ethereum’s future price performance.
Such a significant move from a seasoned Bitcoin holder into Ethereum has stirred speculation. Is this a short-term trade based on upcoming market catalysts, or does it signal a broader shift in confidence toward Ethereum as it continues to evolve beyond just being a smart contract platform?
What This Could Mean for the Market
The whale’s pivot from BTC to ETH may reflect anticipation of upcoming Ethereum-related developments such as ETH ETF approvals, Layer-2 growth, or changes to staking and yield models. It might also suggest a hedge against BTC stagnation or declining dominance.
Large moves like this can impact market sentiment and trading behavior, especially when linked to well-established crypto OGs. While the broader market remains relatively stable, traders and investors are now closely watching Ethereum, expecting potential volatility and possible upward momentum.
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