TLDR
- A Bitcoin whale sold 837.8 BTC worth $69.68 million to acquire 27,500 ETH.
- The whale purchased Ethereum at an average price of $2,534, shifting its exposure from Bitcoin.
- Another whale reportedly exchanged 229 BTC worth $19.1 million for 7,469.8 ETH.
- Bitcoin faces immediate resistance at $84,000 as traders monitor a potential breakout.
- Analyst Ali Martinez identifies 93,000–94,000 as a possible Bitcoin target following a confirmed breakout.
A Bitcoin whale or institutional wallet has sold 837.8 BTC and purchased 27,500 Ether, according to on-chain analyst Ember. The transactions totaled about $69.68 million, with ETH acquired at an average price of $2,534.
The October 13 report tracked a series of trades rather than a single direct Bitcoin-to-Ether exchange. The analyst did not identify the wallet owner or establish the reason behind the purchases.
Bitcoin Whale Routes Funds Through Multiple Networks
The wallet originally withdrew Bitcoin from HTX about 18 months earlier. It later transferred BTC to Hyperliquid, where the owner exchanged the coins for USDC, a dollar-linked stablecoin.
The wallet then moved USDC to Arbitrum and bridged the funds onto Ethereum. It completed the Ether purchases on-chain, according to Ember’s transaction review. Ether whale accumulation also drew attention on October 11, when analysts tracked purchases exceeding 166,000 ETH.
The Bitcoin whale’s activity shows a change in the wallet’s asset mix, not a withdrawal from cryptocurrency markets. Public blockchain records document transfers and swaps but do not establish an investor’s broader strategy.
Another Report Details BTC-to-ETH Swaps
Lookonchain separately reported a sale of 229 BTC worth approximately $19.1 million. The tracked wallet bought 7,469.8 ETH, adding another reported example of capital moving between the two assets.
The trades emerged during Bitcoin’s rebound above $83,000 on October 13. BTC had briefly slipped below $81,000 before recovering, based on reported market data.
Arkham Intelligence dashboard footage showed swaps and transfers involving Hyperunit and Uniswap. Although these transactions appeared on-chain, the footage did not identify who controlled the wallet.
Bitcoin Price Faces Moving-Average Test
Crypto analyst Ali Martinez described a repeating pattern on Bitcoin’s four-hour chart. He cited a rebound from ascending-channel support at the 200-period simple moving average, followed by a close above the 50-period simple moving average, which preceded a rally.
BITCOIN: $84,000 UNLOCKS THE NEXT RALLY
Last time $BTC bounced from the bottom of this channel, the 200 SMA held, and a 4-hour close above the 50 SMA confirmed the rally.
Now, we’re dealing with a very similar setup.
The key level to watch is $84,000, where the 50SMA… https://t.co/z3bNRdUA5q pic.twitter.com/B9OkDkZim8
— Ali Charts (@alicharts) October 13, 2026
His shared chart placed Bitcoin near $83,763, below resistance around $84,000. A four-hour close above that level could open a move toward $93,000–94,000, according to his scenario. Recent crypto ETF outflows totaled $1.29 billion during October 5–9.
