Major Whale Shifts Bitcoin for Ethereum, Starts Selling
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Bitcoin Whale’s Ethereum Shift: A Deep Dive into Market Impact
Table of Contents
The Whale Awakens: From BTC to ETH
A large Bitcoin wallet, dormant for seven years, has begun selling its digital assets. Initially, this whale started swapping Bitcoin for Ethereum (ETH). Towards the end of Q3 2025, the whale, after a two-week pause, resumed selling Bitcoin.
This activity has understandably caused concern among investors, especially following a summer marked by high-profile sell-offs from other whales. The fact that this particular wallet had been inactive for seven years adds a layer of significance to the event.
Ethereum Gains Momentum: market Data
This shift to ETH isn’t isolated. Binance’s monthly market insights for August revealed a 1.7% decrease in the total crypto market capitalization. More importantly, Bitcoin dominance fell to 57.3%, while Ethereum’s share rose to 14.2%. Corporate treasuries currently hold 4.44 million ETH, representing 3.67% of the total ETH supply.
This trend was also evident in Spot Bitcoin ETF trading. august saw an outflow of $750 million from Bitcoin ETFs, contrasted by a substantial $3.9 billion inflow into Ethereum ETFs. Consequently, the price of Ethereum has surged to $4500, consistently challenging its previous high of $4830.
| Metric | August 2025 |
|---|---|
| Total Crypto Market Cap Change | -1.7% |
| Bitcoin Dominance | 57.3% |
| Ethereum Share | 14.2% |
| Corporate ETH Holdings | 4.44M ETH (3.67% of supply) |
| Bitcoin ETF Outflow | $750M |
| Ethereum ETF Inflow | $3.9B |
Transaction Details: The Whale’s Movements
The initial movements began on August 20th. Between then and the start of september, the wallet exchanged 35,991 BTC (equivalent to just over $4 billion) for 886,371 ETH. This left the whale with 49,634 BTC remaining, distributed across four wallets.
During the second weekend of September,two wallets linked to the whale deposited 1,176 BTC and began