Massive crypto shift as whale closes $450M ETH long and adds more to holdings
A prominent Bitcoin whale with assets worth over $11 billion is making a bold move into Ethereum, signaling renewed confidence in the altcoin’s upside potential. The investor, who recently sold 22,769 BTC worth $2.6 billion, has reallocated a significant portion of funds into Ether, according to blockchain data.
From Bitcoin to Ether: A Strategic Rotation
Last week, the whale converted $2.2 billion into 472,920 spot ETH and opened a $577 million Ether perpetual long position on the decentralized exchange Hyperliquid. On Monday, the trader closed $450 million of this position at an average price of $4,735, locking in $33 million in profit before purchasing an additional $108 million worth of spot Ether.
According to Lookonchain data, the whale still holds 40,212 ETH longs valued at $184 million, with an unrealized gain of more than $11 million.
Ethereum Outperforms Bitcoin as Capital Flows Shift
Market analysts point out that Ethereum has gained nearly 25% in the past month, while Bitcoin slipped by 5.3%, according to TradingView data. The rotation of funds by large investors is seen as a major driver of Bitcoin’s recent decline to $112,000.
Willy Woo, a well-known analyst, suggested that these whale movements are influencing short-term liquidity and price dynamics across major crypto assets.
Bitget CEO Gracy Chen believes the trend could push Ethereum to new highs:
“Ethereum’s rally past $4,300 signals robust ecosystem demand and the potential onset of an altcoin season. While Bitcoin may consolidate between $110,000 and $120,000, ETH looks stronger, with targets between $4,600 and $5,200.”
Chen also noted that dovish remarks from Federal Reserve Chair Jerome Powell have boosted risk appetite among investors, fueling capital rotation from Bitcoin to Ethereum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.