Reported Whale Rotation Moves $104 Million Into Ethereum
Reported Whale Rotation Moves $104 Million Into Ethereum
Anonymous
Key Points
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Aerodrome data indicated that BTC-ETH trading accounted for 56% of on-chain activity, underscoring Bitcoin’s influence over Ethereum’s market direction.
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The 2015 Ethereum ICO whale already held 38,800 ETH acquired at $0.31 per token before adding another 8,492.8 ETH.
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The wallet that bought 14,783 ETH had previously sold Ethereum on Aug. 21 for a reported $3.7 million profit, then returned to the market on Sept. 21 and withdrew 7,567 ETH worth about $20 million.
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The whale rotation could affect derivatives-market funding rates and open interest, making BTC-ETH trading activity an indicator to watch for broader volatility.
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Ethereum’s technical signals were mixed rather than uniformly bullish: MACD and ADX showed strength, while RSI was neutral at 51.31, and the Awesome Oscillator offered no decisive momentum signal.
A major crypto whale swapped 200.71 BTC for 6,247 ETH on Tuesday, continuing a six-day rotation that has moved 1,308 BTC into 40,670 ETH — all reportedly staked Tradingpedia. The move is part of a broader shift: large investors are aggressively accumulating Ethereum while Ethereum sits near $2,727–$2,740, with fresh whale purchases totaling over $100 million in just days.
Bitcoin-to-Ethereum Swap Hits $104 Million in Six Days
The whale rotation extends a coordinated shift from Bitcoin to Ethereum across multiple transactions. One wallet acquired 8,492.8 ETH for $23.72 million, while another purchased 14,783 ETH after moving $40 million in USDC to Binance Tradingpedia. On-chain data shows BTC-ETH trading now represents 56% of major activity, signaling Bitcoin's heavy influence over Ethereum's price direction.
The 2015 Ethereum ICO whale — an early backer who bought tokens at just $0.31 each — added 8,492.8 more ETH to an existing 38,800 ETH stake Tradingpedia. Another wallet returned to buying after selling Ethereum on August 21 for a $3.7 million profit. The whale rotation could amplify volatility in derivatives markets by shifting funding rates and open interest.
Institutional Demand Clashes With ETF Withdrawal Pressure
While large whales are stacking Ethereum, institutional flows tell a mixed story. US spot Ethereum ETFs drew $162.2 million in net inflows for the third straight trading day BloomingBit. But weekly net outflows signal some institutional holders are trimming exposure despite whale buying.
Bitcoin ETFs meanwhile recorded their fourth consecutive session of inflows, with over $700 million flowing in BloomingBit. BlackRock's IBIT alone captured $350.3 million, showing retail and institutional conviction in Bitcoin remains stronger than Ethereum's. Whale buying may be propping up ETH prices even as some larger institutions reduce their stakes.
Technical Signals Send Mixed Bullish and Neutral Messages
Ethereum's chart shows strength but no uniform bullish consensus. The MACD and ADX indicators signal upside momentum, but the Relative Strength Index (RSI) sits neutral at 51.31 — neither overbought nor oversold Tradingpedia. The Awesome Oscillator offered no decisive momentum signal, leaving traders without a clear directional edge.
Resistance sits at $2,780–$2,825, while support levels cluster near $2,628 and the 50-day exponential moving average around $2,582 Tradingpedia. Ethereum's 7-day advance of 14% came after pullbacks in energy prices and US Treasury yields eased selling pressure. Analysts expect volatility to persist as whale accumulation battles institutional outflows for control of price direction.
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