{"id":79458,"date":"2026-10-13T12:17:26","date_gmt":"2026-10-13T12:17:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/a-377m-bitcoin-whale-wakes-up-while-another-dumps-btc-for-ether\/"},"modified":"2026-10-13T12:17:26","modified_gmt":"2026-10-13T12:17:26","slug":"a-377m-bitcoin-whale-wakes-up-while-another-dumps-btc-for-ether","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/a-377m-bitcoin-whale-wakes-up-while-another-dumps-btc-for-ether\/","title":{"rendered":"A $377M Bitcoin Whale Wakes up While Another Dumps BTC for Ether"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Lookonchain flagged 4,582 BTC leaving a wallet that had sat untouched since Aug. 7, 2024.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">A separate whale sold 837.8 BTC bought near $95,434 and rotated $69.7M into ETH via Hyperliquid.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">ETH\/BTC slipped below 0.03 on Oct. 13 for the first time since Aug. 19 as the whale kept buying.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Whale No. 1: What Woke Up?<\/h2>\n<p>Onchain tracker Lookonchain reported that <a href=\"https:\/\/x.com\/lookonchain\/status\/2109833364295610392\" target=\"_blank\" rel=\"noopener noreferrer\">another Bitcoin OG had woken up<\/a>, transferring out all of their 4,582 BTC ($377.58M). The coins <a href=\"https:\/\/mempool.space\/tx\/0c613033349322d271a7a3fa8fae2c03a63f2fa8eb33ec3a1e5d79dbf950475f\" target=\"_blank\" rel=\"noopener noreferrer\">arrived in one 4,581.94 BTC transfer<\/a> on Aug. 7, 2024, and sat there for more than two years. At 6:37 p.m. UTC on Oct. 12, the full stack left in <a href=\"https:\/\/mempool.space\/tx\/fae42fe17f921bc4e887f9af9fbf92441e02bd8469904f8cfe8463caf6e9c4d2\" target=\"_blank\" rel=\"noopener noreferrer\">a single transaction<\/a> split into five pieces:<\/p>\n<ul>\n<li>Four outputs of exactly 1,000 BTC<\/li>\n<li>One of 581.94 BTC<\/li>\n<\/ul>\n<p>Each one went to a fresh address and all five receiving addresses had no prior history. Moreover, as of Tuesday morning, not a single satoshi had been spent.<\/p>\n<p>From the outside looking in, the 1,000 BTC lots look more like custody restructuring or an over-the-counter (OTC) desk preparing a sale than a panicked market dump. Also, the dump was not an isolated event given that last week, a <a href=\"https:\/\/x.com\/lookonchain\/status\/2108028010981130335\" target=\"_blank\" rel=\"noopener noreferrer\">separate wallet moved 4,500 BTC ($375.72 million)<\/a> after more than four years of inactivity.<\/p>\n<p>Lastly, Bitcoin.com News has tracked such movements all year long, with <a href=\"https:\/\/news.bitcoin.com\/dormant-holders-unleash-7-6b-in-bitcoin-aged-5-to-15-years-across-2026\/\">dormant holders unleashing<\/a> billions in aged BTC across 2026.<\/p>\n<h2>Whale No. 2: Why Sell Bitcoin at a Loss?<\/h2>\n<p>The second whale\u2019s movements are easier to read, because the individual seems to be making a clear bet. Onchain analyst EmberCN first spotted the wallet <a href=\"https:\/\/x.com\/EmberCN\/status\/2109485259570200582\" target=\"_blank\" rel=\"noopener noreferrer\">selling 410.1 BTC<\/a> on Hyperliquid for about $34.13 million in USDC and turning that into 13,527 ETH at $2,523. Those coins had been withdrawn from the HTX exchange between March and June 2025 at an average cost of $95,434.<\/p>\n<p>The whale didn\u2019t stop there and by early Tuesday, the entity had <a href=\"https:\/\/x.com\/EmberCN\/status\/2109823793980170393\" target=\"_blank\" rel=\"noopener noreferrer\">sold 837.8 BTC<\/a> in total and bought 27,500 ETH ($69.68 million) at an average of $2,534. The route was elaborate, i.e. BTC into Hyperliquid, sold for USDC, USDC withdrawn to Arbitrum, bridged to Ethereum, then swapped for ETH onchain.<\/p>\n<p>Analyst Ai Yi (ai_9684xtpa) <a href=\"https:\/\/x.com\/ai_9684xtpa\/status\/2109827072374030674\" target=\"_blank\" rel=\"noopener noreferrer\">put the tally<\/a> at 837.78 BTC into 27,501 ETH at a 0.03046 exchange rate, and the <a href=\"https:\/\/arkm.com\/explorer\/entity\/3d489a21-43da-4e02-88d2-4bf94c75274b\" target=\"_blank\" rel=\"noopener noreferrer\">wallet cluster is public on Arkham<\/a>.<\/p>\n<p>410.1 BTC at a $95,434 cost basis is about $39.1 million, and the sale brought back roughly $34.1 million, a realized loss of around $5 million, or 13%. The whale took that hit to switch horses, not to cash out.<\/p>\n<h2>The Ratio Both Whales Are Staring At<\/h2>\n<p>The rotation runs straight into a technical line as Ai Yi noted that ETH\/BTC fell below 0.03 for the first time since Aug. 19, the date the analyst marks as the start of this leg of the market.<\/p>\n<p>Bitcoin\u2019s price backdrop may also be able to explain part of the urgency as the asset slipped under $82,000 on Monday night as <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-price-falls-below-82k-as-406m-in-longs-get-liquidated\/\">$406M in longs<\/a> were wiped out, before bouncing back above $83,500 on Tuesday. Institutional flows haven\u2019t helped either side, with bitcoin and ether exchange-traded funds (ETFs) <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-ether-etfs-lose-1-2-billion-as-institutional-demand-cracks\/\">shedding $1.2 billion last week<\/a>.<\/p>\n<p>The ether buyer is not alone in its conviction as Tom Lee\u2019s Bitmine recently <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/bitmine-surpasses-6m-eth-closing-in-on-5-of-ethereum-supply\/\">surpassed 6M ETH<\/a>, closing in on 5% of supply, a corporate bid that ETH bulls point to whenever the ratio sags.<\/p>\n<div class=\"not-prose my-3 lg:my-4\">\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden md:flex md:flex-row md:gap-3 lg:hidden\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/2010-bitcoin-mega-whale-wakes-up-moves-181m-in-dormant-btc-after-yearlong-silence\/\"><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/div>\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden lg:flex lg:flex-row lg:gap-4\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/2010-bitcoin-mega-whale-wakes-up-moves-181m-in-dormant-btc-after-yearlong-silence\/\"><img alt=\"2010 Bitcoin Mega Whale Wakes up, Moves $181M in Dormant BTC After Yearlong Silence\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F01%2Fwhalersddd-150x150.png&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/p>\n<div class=\"flex min-w-0 flex-1 flex-col justify-center gap-2\">\n<p class=\"m-0 line-clamp-2 text-base leading-[1.3] !text-[#67656E]\">After a lengthy disappearing act\u2014last spotted in November 2024\u2014the elusive 2010-era mega whale has resurfaced yet again, finally rousing 2,000\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/crypto-news\/bitcoin-whale-wakes-377m-another-swaps-btc-for-eth\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Lookonchain flagged 4,582 BTC leaving a wallet that had sat untouched since Aug. 7, 2024. A separate whale sold 837.8 BTC bought near $95,434 and rotated $69.7M into ETH via Hyperliquid. ETH\/BTC slipped below 0.03 on Oct. 13 for the first time since Aug. 19 as [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":79459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79458"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=79458"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/79459"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=79458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=79458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=79458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}