$11B Bitcoin whale returns with $360M BTC transfer after 2 months

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A Bitcoin whale who held astir $11 cardinal successful BTC earlier rotating much than $5 cardinal of their stash into Ether 2 months agone has returned to the cryptocurrency market, with different $360 cardinal Bitcoin transfer.

The whale code transferred $360 cardinal worthy of Bitcoin (BTC) into decentralized concern (DeFi) protocol Hyperunit’s blistery wallet '“bc1pd” connected Tuesday. This marks their archetypal transportation successful 2 months, according to blockchain information level Arkham..

The transportation whitethorn awesome different rotation into Ether (ETH) based connected the whale’s transaction patterns.

The $11 cardinal Bitcoin whale emerged 2 months agone and rotated astir $5 billion worthy of BTC into Ether, concisely surpassing the second-largest firm treasury firm, Sharplink, successful presumption of full ETH holdings, Cointelegraph reported connected Sept. 1.

The whale inactive held implicit $5 cardinal worthy of Bitcoin successful their main wallet arsenic of Wednesday, signaling much imaginable selling unit for the world’s archetypal cryptocurrency.

The Bitcoin whale started rotating their funds into Ether connected Aug. 21 erstwhile they sold $2.59 cardinal worthy of BTC for a $2.2 cardinal spot Ether and a $577 cardinal Ether perpetual agelong position.

The determination inspired different ample investors, including 9 “massive” whale addresses that acquired a cumulative $456 cardinal worth of ETH wrong a day, soon aft the whale’s archetypal rotation, Cointelegraph reported connected Aug. 27.

Despite renewed whale activity, Bitcoin continues to pull investors seeking a hedge against rising national debt and the ongoing US authorities shutdown, said Ryan Lee, main expert astatine crypto speech Bitget.

“In this environment, superior is gravitating toward scarce, non-sovereign assets that sphere worth implicit time,” Lee told Cointelegraph. He described Bitcoin’s scarcity and divisibility arsenic cardinal traits that reenforce its relation arsenic “digital gold.”

Bitcoin holders transportation $3.9 cardinal successful dormant Bitcoin

Meanwhile, Bitcoin holders who person been dormant for 3 to 5 years person conscionable recorded their largest cumulative transportation of 2025.

This cohort of investors sent a cumulative 32,300 Bitcoin worthy $3.93 cardinal to exchanges, marking the largest transportation of this conception year-to-date, according to information shared by CryptoQuant expert Maartunn connected Tuesday.

Large-scale selling from antecedently dormant Bitcoin whales was among the main reasons limiting Bitcoin's terms enactment successful August, according to fashionable expert Willy Woo.

“BTC proviso is concentrated astir OG whales who peaked their holdings successful 2011,” who bought Bitcoin beneath $10, said Woo successful an Aug. 25 X post.

“This differential successful outgo basis, the proviso they clasp and their complaint of selling has profound impacts connected however overmuch caller superior that needs to travel successful to assistance price,” helium added.

However, Bitcoin whitethorn beryllium poised to outperform different crypto assets, contempt concerns astir whale selling and wide calls for the commencement of an altcoin season, according to Matrixport.

“Over the past 2 months, Bitcoin dominance temporarily declined arsenic ETH and prime alts outperformed, but that inclination is present reversing – signaling that Bitcoin is erstwhile again reclaiming enactment successful this cycle,” the institution wrote Wednesday connected X.

Matrixport added that portion determination person been “countless” calls for an altcoin season, the existent rally remains “selective alternatively than broad-based.”