Ballena Bitcoin wakes up after seven years to change millions in BTC for Ethereum
By Hannah Pérez
An unknown entity sold a part of its more than 100,000 BTC maintained during the last 7 years to bet on ETH in the midst of an impulse for the second largest cryptocurrency.
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- The unknown entity sold a part of its more than 100,000 BTC to buy ETH.
- He had maintained his bitcoins during the last 7 years, without registering activity.
- He also opened leverage long positions, with around USD $ 850 million in Ether exhibition.
- Bet on Ethereum in the middle of an impulse for the second largest cryptocurrency.
A whale of Bitcoin (BTC) has aroused after having remained inactive for more than seven years, to sell a significant portion of their BTC holdings and change them for Ethereum (ETH).
This movement, detected through chain data, could reflect a possible strategic rotation of assets by large holders –or whales– in a moment of volatility in the cryptocurrency market.
According to reports published in the analysis firm Blockchain Lookonchainthe wallet in question initially received 100,784 BTC seven years ago, equivalent to USD $ 642 million at current prices. Recently, it has sold part of its BTC to acquire 62,914 ETH in cash purchases, valued at approximately USD $ 270 million.
A Bitcoin Og Who Received 100,784 $ BTC($ 642m) 7 years ago HIS DORMANCY RECENTLY— Selling $ BTC While Buying 62,914 $ Eth ($ 267m) Spot and Opening to Massive 135,265 $ Eth($ 577m) Long position.
We Just Spotted Another Bitcoin Og Depositing $ BTC into #Hyperliquid To Sell and Buy … pic.twitter.com/qhebn276lf
– Lookonchain (@lookonchain) August 22, 2025
In addition, it has opened a long position in the derivative market for 135,265 ETH, with a value of USD $ 580 million. This adds a total of around USD $ 850 million in exposure to Ethereum. The whale moved 670 BTC, valued at USD $ 75 million to four wallets, selling 660 BTC in the decentralized exchange Hyperliquid To open long -signed long positions in ETH, three of them with a 10X leverage and a nominal size of USD $ 209 million.
It is not the only one, since Lookonchain He also identified a similar pattern in another wallet that received 85,947 BTC in the same period, suggesting that it could be the same entity by controlling multiple addresses. In total, six wallets have been linked to this whale, which still maintain 83,585 BTC, equivalent to USD $ 9.45 billion.
Rotation towards ETH in the midst of bullish impulse
The movement coincides with a market context where Bitcoin It has fallen to a minimum of two weeks around USD $ 112,000, a loss of 5% in the month, while Ethereum It remains resilient around USD $ 4,200 and with profits of more than 15% in the last 30 daysaccording to data from Coingcko.
The second largest cryptocurrency now exceeds Bitcoin In terms of returns since July and so far this year, it largely driven by institutional appetite and aggressive corporate purchases. The flows of funds quoted in the stock market (ETF) of Ethereum They have registered record tickets in recent weeks, while BTC have lagged behind.
Experts consulted by Decrypt interpret this movement as an upward bet for the growth of Ethereum. Slava Demchuk, CEO of the analysis firm AMLBOTsaid that “This transfer indicates the activation of old BTC whales“And it represents a”Strategic rotation towards alternative assets due to growth expectations“
Demchuk also highlighted the maturity of the today –then more than USD $ 9 billion–causing only a 5% drop in the price of Bitcoin.
Whale movements attract attention
This is not an isolated case. In recent months, similar activations of old wallets have been recorded: on August 7, a whale moved USD $ 349 million in BTC after a decade of inactivity; In July, another transferred USD $ 469 million after 14 years asleep.
In the world of cryptocurrencies, those directions, people or entities with huge amounts of a token are known colloquially as “whales” Bitcoin either Ethereum. The merchants closely monitor whales in search of signals about the feeling of the market and due to their ability to impact prices.
This particular event occurs when investors are in suspense waiting for the speech of the president of the Federal Reserve, Jerome Powell in the Jackson Hole symposium, where the official is expected to throw signals on the next steps in the monetary policy, a factor that has discouraged investment in risk assets, activating market volatility.
At the time of the wording, ETH was quoted at USD $ 4,242, with a loss of 0.7% in the last 24 hours, although almost 10% below its recent peak around USD $ 4,800, close to its historical maximum of 2021. BTC is around the USD $ 112,200, 1% less in the day and 9.5% below its historical maximum last week $ 124,000.
Article written with the help of AI, edited by Diariobitcoin
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