Bitcoin Whale Sparks $2.6B Rotation Into Ethereum, Scoops $108M More in Bold ETH Bet
A legendary Bitcoin whale has ignited market chatter after shifting billions into Ethereum, signaling a high-stakes bet that could tilt the balance of power between the top two cryptocurrencies.
According to on-chain intelligence from Lookonchain, the whale, worth more than $11 billion, recently sold 22,769 BTC valued at $2.59 billion. The proceeds were rotated into 472,920 spot ETH worth $2.2 billion, alongside a hefty $577 million ETH perpetual long position on the decentralized exchange Hyperliquid.
$33M Profit Locked In, More Ether Scooped Up
On Monday, the whale closed $450 million worth of his ETH perpetual longs at an average price of $4,735, pocketing a tidy $33 million in realized profit. Rather than taking risk off the table, he doubled down by scooping an additional $108 million in spot ETH, bringing his total ETH accumulation to eye-watering levels.
“He still holds 40,212 ETH (worth $184M) longs, with an unrealized profit of $11M+,” Lookonchain reported on X.
Bitcoin Weakens as Ethereum Strengthens
This massive rotation has rattled the market. Bitcoin slipped 2.2% on Sunday, falling from $114,666 to as low as $112,174 in under an hour, a move analysts attribute directly to whale selling.
Ethereum, meanwhile, has outperformed Bitcoin by 25% over the past month, riding strong institutional demand and capital rotation. Prominent analyst Willy Woo highlighted that whale flows were a “primary driver” of Bitcoin’s recent weakness, while simultaneously boosting Ethereum’s upside momentum.
Analysts See ETH Pushing Toward $5.2K
Bitget CEO Gracy Chen predicts Ethereum could soon challenge fresh highs, noting that Powell’s dovish comments at Jackson Hole are fueling risk appetite.
“Ethereum’s rally past $4,300 signals robust ecosystem demand and the potential onset of an altcoin season,” Chen said. “Bitcoin may crab between $110K–$120K, but Ethereum looks stronger with targets between $4,600 and $5,200.”
Chen pointed to on-chain data confirming rotation from BTC into ETH as a key momentum driver. With Powell hinting at possible Fed rate cuts in September, traders are bracing for a surge in altcoin demand.
Why It Matters
The bold shift by an $11B Bitcoin whale underscores a growing conviction that Ethereum could lead the next crypto cycle. If ETH breaks above $5,000, the whale’s high-stakes rotation may prove not only profitable but also a pivotal turning point for market sentiment.
For now, the spotlight is firmly on Ethereum’s strength versus Bitcoin’s sluggishness, and the whale who just made one of the boldest bets of 2025.
