A long-dormant Bitcoin whale has shifted nearly $4 billion from Bitcoin into Ethereum, sparking speculation about changing market sentiment. Over the weekend, the whale sold 6,000 BTC for roughly 145,800 ETH, adding to earlier swaps. Once holding over $5B in Bitcoin, the wallet now primarily holds Ethereum. This move mirrors broader fund flows: Bitcoin ETFs saw $751M in outflows in August, while Ethereum ETFs gained $3.87B. Analysts point to Ethereum’s upgrades and institutional adoption as key drivers of inflows, despite ETH’s slight weekly dip. Bitcoin’s market remains in consolidation, while Ethereum is increasingly seen as better positioned for growth. Analysts also note whale activity often influences smaller investors, suggesting Ethereum’s rising dominance could reshape portfolio allocations across the market.
