The whale "wakes up" after 7 years: Sells BTC, gathers nearly 4 billion USD in Ethereum

A Bitcoin whale that has been "hibernating" for 7 years has just shocked the market by executing a record capital rotation: selling thousands of $BTC to gather nearly 900,000 ETH worth about 3.9 billion USD.

According to Lookonchain, in just 2 days at the end of August, this whale sold 6,000 BTC (~645 million USD) and bought 145,000 $ETH . Since resuming activity, the wallet has accumulated a total of 886,371 ETH – becoming one of the largest asset transfers from BTC to ETH this year.

This move coincides with the ETF trend: in August, Bitcoin spot funds saw a net outflow of 751 million USD, while Ethereum ETFs attracted a net inflow of up to 3.87 billion USD. Many experts believe this could be a signal for a new growth cycle of ETH, as institutional capital begins to lean towards Ethereum.

Not only stopping at spot purchases, the whale also opened an additional long derivative position of 135,265 ETH (~580 million USD), further reinforcing confidence in the price increase.

History shows that every time a dormant wallet "thaws", it creates significant waves in the market. If this time the scenario repeats, the whale's rotation of billions of USD into ETH could become a catalyst for the "ETH season", triggering a strong FOMO wave from retail investors. #anh_ba_cong