TLDR
- A Bitcoin whale has resumed selling after a two-week pause by offloading 1,176 BTC worth over $136 million.
- The same whale previously swapped 35,991 BTC for Ether in August valued at over $4 billion at the time.
- Bitcoin has struggled to break above the $116,000 resistance level despite renewed whale activity.
- If the whale converts its Ether holdings back to Bitcoin now it would face a loss of nearly 460 BTC.
- Other dormant Bitcoin whale wallets have also become active after more than a decade of inactivity.
A Bitcoin whale has resumed selling activity after a short break, unloading over $136 million worth of Bitcoin this week. This move follows a $4 billion Bitcoin-to-Ether swap last month, causing speculation in crypto markets. Bitcoin remains flat near the $116,000 level, showing resistance and minimal momentum despite heavy whale activity.
Bitcoin Whale Resumes Selling at Key Resistance
A long-dormant Bitcoin whale deposited 1,176 BTC into Hyperliquid on Sunday and began selling immediately. The whale had paused after converting 35,991 BTC to Ether in August, valued then at over $4 billion. This action reignites concerns that large Bitcoin holders may impact market dynamics during resistance periods.
The wallet remained inactive for more than eight years before its recent activity shocked the market. Lookonchain reported, “The Bitcoin whale started dumping again after a short two-week break.” Traders are now watching closely for further movements from this high-value address.
After a two-week break, the #BitcoinOG who exchanged 35,991 $BTC($4.04B) for 886,371 $ETH($4.07B) is back to selling $BTC!
2 wallets linked to this #BitcoinOG have deposited 1,176 $BTC($136.2M) to Hyperliquid in the past 2 hours and started dumping.https://t.co/LTiJHW049j pic.twitter.com/L0m2bEG1J7
— Lookonchain (@lookonchain) September 14, 2025
The current selling comes as Bitcoin struggles to break above its short-term resistance. The timing and scale of the transactions suggest deliberate profit-taking near psychological levels. Consequently, this Bitcoin whale is once again shaping the broader market mood.
Ether Gains Attention After $4B BTC Swap
In August, the same Bitcoin whale exchanged nearly 36,000 BTC for Ether, signaling a major shift in asset preference. The Ether-to-Bitcoin ratio has stayed under 0.05 but climbed 6% in the last month. However, if the whale reverts to BTC now, it would incur a 460 BTC loss, worth over $53 million.
This change highlights the volatility between the two leading cryptocurrencies and reflects evolving whale strategies. Market watchers view this as a strategic hedge or a calculated risk amid uncertain price trends. Despite the recent Ether rally, Bitcoin whales remain central to liquidity movements.
The ETH/BTC ratio peaked in 2017 at 0.14 but has stayed significantly lower in recent years. This Bitcoin whale’s shift has not yet sparked a broader trend toward Ether among other large holders. Still, the market remains alert to any ripple effects from this large-scale repositioning.
Multiple Bitcoin whale wallets have resurfaced in recent weeks after years of inactivity. On Thursday, a wallet holding 445 BTC moved part of its holdings to Kraken for the first time in 13 years. Another wallet holding 480 BTC also made transfers earlier this month after being idle since 2012.
