EddieJayonCrypto

 29 Aug 25

tl;dr

**Bitcoin Whale Makes $216M Move: BTC to ETH Swap Sparks Market Talk** A major Bitcoin whale has made waves in the crypto world, depositing 2,000 BTC—worth over $216 million—into Hyperliquid’s exchange and methodically swapping it for Ethereum. According to data from block explorer Hypurrscan, th...

**Bitcoin Whale Makes $216M Move: BTC to ETH Swap Sparks Market Talk** A major Bitcoin whale has made waves in the crypto world, depositing 2,000 BTC—worth over $216 million—into Hyperliquid’s exchange and methodically swapping it for Ethereum. According to data from block explorer Hypurrscan, the address ending in “eCb43” received 1,000 BTC in two transactions around 10:57 a.m. ET, then began selling small batches of Bitcoin for Ethereum, often trading 1–1.5 BTC at a time. The process repeated with a second 1,000 BTC deposit, culminating in the withdrawal of over 42,750 ETH. This isn’t the first time this whale has made headlines. On-chain analytics firm Arkham Intelligence has linked the address to a broader network of accounts holding $5 billion in Bitcoin, including a massive $800 million BTC deposit to Hyperunit on August 24. Arkham’s X post noted the whale’s recent activity: “He just moved $1.1 billion of BTC to a new wallet and has started purchasing ETH through Hyperunit/HL. This whale bought $2.5 billion of ETH last week, and he’s still buying.” The whale’s strategy isn’t new. Last week, the same entity swapped BTC for leveraged long positions on Ethereum, betting $75 million on the altcoin’s rise. This pattern of large-scale BTC-to-ETH swaps has become a recurring theme, with one Bitcoin billionaire recently moving $8 billion in “old BTC” (coins dormant for over a decade) and later selling $9 billion worth of Bitcoin via Galaxy Digital. Despite the whale’s aggressive trading, both Bitcoin and Ethereum dipped 4% on Friday, trading at $108,196 and $4,318, respectively. The question now is: Is this a sign of a bear market, or is the whale simply hedging bets in a volatile landscape? What do you think? Could this whale’s moves signal a shift in sentiment, or is it just another chapter in the ongoing crypto rollercoaster?

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 21 Nov 25
 6 Nov 25
 6 Nov 25