A major Bitcoin investor, who previously shifted over $5 billion from their $11 billion BTC holdings into Ether two months ago, has re-entered the crypto scene with a fresh transfer of $360 million in Bitcoin.
On Tuesday, this whale moved $360 million worth of Bitcoin (BTC) to Hyperunit’s DeFi protocol hot wallet “bc1pd.” This transaction marks their first activity in two months, as reported by blockchain data platform Arkham.
This movement might indicate another potential shift towards Ether (ETH), considering the whale’s previous transaction behavior.
Two months back, this significant Bitcoin holder transitioned approximately $5 billion worth of BTC into Ether. This move temporarily positioned them ahead of Sharplink—the second-largest corporate treasury firm—in terms of total ETH assets held, according to Cointelegraph on September 1st.
The whale still retains more than $5 billion in Bitcoin within their primary wallet as of Wednesday. This suggests there could be additional selling pressure for the leading cryptocurrency.
Source: Arkham
The transition into Ether began on August 21 when they exchanged $2.59 billion worth of BTC for a spot purchase and perpetual long position in Ether valued at around $2.77 billion combined.
This strategic move encouraged other substantial investors—nine prominent whales—to collectively acquire about $456 million worth of ETH shortly after the initial shift by this major player, as noted by Cointelegraph on August 27th.
Related: $10B in Ethereum poised for withdrawal amid validator exits
Despite these activities among large holders or “whales,” interest in Bitcoin remains strong among those seeking protection against increasing federal debt and ongoing U.S government shutdown issues according to Ryan Lee—a chief analyst at Bitget exchange—who highlighted how scarce non-sovereign assets like bitcoin preserve value over time due its unique characteristics such as divisibility which reinforce its status akin digital gold .
Related : Stablecoin market surge toward$300B serves ‘rocket fuel’for crypto rally
Dormant Investors Shift Nearly Four Billion Dollars Worth Of Old Bitcoins
Meanwhile ,bitcoin owners inactive between three-to-five years have just executed largest cumulative transfers recorded so far during year twenty-twenty-five .
This group transferred thirty-two thousand three hundred bitcoins valued roughly three point nine-three-billion dollars onto exchanges marking biggest transfer thus far based upon information shared via CryptoQuant analyst Maartunn last Tuesday.
<EM Source:< em maartunn
<P According To Analyst Willy Woo Large Scale Selling By Previously Dormant Whales Was One Main Factor Limiting Price Action During August.
“BTC Supply Concentrated Around OG Whales Peaked Holdings In Twenty Eleven” Who Bought Below Ten Dollars Said Woo Via An X Post Dated Aug Twenty Fifth Adding Differential Cost Basis Supply Held Rate Selling Profoundly Impacts New Capital Needed Lift Prices Upward Trendline Continuing Statement Further Explained His Observations On Market Dynamics At Play Here Today Now More Than Ever Before Seen Historically Speaking Over Time Spans Past Present Future Combined Altogether Collectively Considered Aspects Discussed Thoroughly Detailed Manner Possible Within Context Provided Framework Available Resources Accessible Public Domain Knowledge Base Accessible Globally Online Community Worldwide Audience Participation Encouraged Open Dialogue Exchange Ideas Perspectives Shared Among Participants Engaged Discussions Forums Social Media Platforms Various Channels Outlets Dedicated Topics Related Subjects Matter Expertise Field Study Analysis Research Development Exploration Innovation Creativity 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