He sold $577M of $BTC and bought $2.2B of $ETH
I researched all the data and liquidity flew into alts rn
Here is why we have a correction and what will be next
2/➫ Powell’s Jackson Hole speech flipped the tone across markets
❍ He hinted at a possible September cut, saying risks had shifted
❍ Within minutes BTC rebounded above $117K and ETH surged toward $4.9K, as risk assets caught a wave of fresh optimism
❍ Let me explain more
3/➫ The timing couldn’t be better for Ethereum
❍ Institutions showed interest instantly – ETH ETFs logged $287M inflows in a single day, while BTC ETFs saw $194M outflows
❍ Money was visibly rotating into ETH before the whale even moved
4/➫ Next, the whale made his move
❍ A Bitcoin OG who held coins since 2018 started unloading
❍ In just five days he sold 22,769 BTC worth over $2.5B and bought more than $2.2B in ETH
❍ He even opened a $577M ETH long, signaling confidence in the move
5/➫ BTC couldn’t handle the pressure and collapsed fast
❍ Spot sales on Hyperliquid triggered a violent flush, with BTC sliding to $112K and then extending lower to $109,668
❍ Over $800M in longs were wiped out as leverage traders got caught off guard
6/➫ ETH surged in the same window as the whale scooped 472K tokens
❍ The price ripped past $4.9K and forcing $147M of shorts into liquidation
❍ But momentum quickly faded, and ETH now trades at $4,371, well below that local peak
7/➫ Traders rushed to copy the play, convinced ETH was unstoppable
❍ But when the OG started trimming positions, the same crowd got punished
❍ ETH corrected nearly 4%, BTC bounced partly, and once again retail was left holding losses
8/➫ For the OG, ETH isn’t just a speculative bet
❍ He staked 275K tokens, securing long-term yield of around 4–5% annually
❍ Unlike BTC, ETH pays to hold, and for wallets this size, passive income becomes a key part of the strategy rather than a side benefit
9/➫ BTC dominance slid from 61% to 57.6% this month, but not as a clean sign of altseason
❍ It happened as Bitcoin broke down and ETH gave back gains
❍ The shift shows weakness more than rotation, with both majors struggling after the whale’s move
10/➫ The risk isn’t gone, it clearly remains in play
❍ The OG still holds more than 150K BTC worth over $17B, enough to hit the market again
❍ If he decides to unload more, Bitcoin could stay capped for weeks, while ETH could see deeper shocks if part of the rotation unwinds
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11/➫ Bulls argue this is still the last bear trap before a breakout
❍ They point to Powell’s dovish tilt and earlier inflows into ETH ETFs as fuel
❍ But with ETH back at $4,371 and BTC under $110K, that narrative looks far less convincing today
12/➫ Bears call it a tactical play
❍ They say the OG pumped ETH, closed positions, and left others holding risk
❍ With inflation risk lingering and the Fed not yet cutting, this rotation could age as another brutal trap instead of a new cycle
13/➫ One whale just reminded the market how fragile liquidity is
❍ BTC slid to $109,600 and ETH to $4,300 in days, flipping sentiment fast
❍ Step into risk-off now or risk losing everything in this volatility
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