Bitcoin Whale Sitting on $5 Billion Dumps More BTC to Buy Ethereum

Briefly

A Bitcoin whale related to wallets holding $5 billion in BTC is dumping some holdings for Ethereum.
The holder deposited at the very least 2,000 BTC on Hyperliquid, promoting it in batches for ETH.
Different Bitcoin whales have performed an identical commerce of late as ETH rose to a brand new all-time excessive value.

A serious Bitcoin holder deposited 2,000 Bitcoin—price greater than $216 million—to Hyperliquid’s change and methodically offered it into Ethereum, in accordance with information from community block explorer Hypurrscan.

The handle ending in “eCb43” first acquired 1,000 BTC price round $108 million throughout two transactions round 10:57 a.m. ET this morning. Shortly thereafter, the account started promoting small batches of Bitcoin for Ethereum, usually promoting 1-1.5 BTC at a time and buying the corresponding quantity in ETH till its Bitcoin was exhausted.

It later re-upped with one other 1,000 deposit, following the identical playbook earlier than in the end transferring the entire Ethereum—greater than 42,750 ETH—out of its pockets.

On-chain analytics agency Arkham Intelligence has related the handle to others that collectively maintain $5 billion price of Bitcoin, and one which deposited at least $800 million price of Bitcoin to Hyperunit on August 24. Hyperunit is a platform that enables native tokens like Bitcoin and Ethereum to be deposited and in the end traded on Hyperliquid.

“A whale holding over $5 billion of BTC is at the moment shopping for ETH. He simply moved $1.1 billion of BTC to a brand new pockets and has began buying ETH by means of Hyperunit/HL,” Arkham posted on X. “This whale purchased $2.5 billion of ETH final week, and he’s nonetheless shopping for.”

BREAKING: $5 BILLION BTC WHALE BUYING UP TO $1 BILLION $ETH

A whale holding over $5B of BTC is at the moment shopping for $ETH. He simply moved $1.1 BILLION of BTC to a brand new pockets and has began buying ETH by means of Hyperunit/HL.

This whale purchased $2.5 BILLION of ETH final week, and… pic.twitter.com/cMQWrYBmZb

— Arkham (@arkham) August 29, 2025

Final week, a Bitcoin whale performed the identical commerce, opting to swap a few of its BTC for a levered $75 million worth of long positions on ETH.

Bitcoin whales have been coming alive of late. One Bitcoin billionaire recently made the largest transfer of “old BTC,” or cash which haven’t moved in 10 years, in historical past when it transferred greater than $8 billion price.

Later, that very same Bitcoin OG cashed out more than $9 billion of the top crypto asset, promoting greater than 80,000 Bitcoin acquired within the Satoshi-era through crypto asset agency, Galaxy Digital.

Each Bitcoin and Ethereum are buying and selling round 4% decrease on Friday, altering palms for $108,196 and $4,318, respectively.