A long -term Bitcoin holder that sold $ 4 billion from his assets for Ether last month to sell himself while Bitcoin crossed $ 116,000 for the first time in three weeks.
Two Bitcoin (BTC) portfolios linked to an address that has kept cryptocurrency for more than eight years deposited 1,176 BTC worth more than $ 136 million in the hyperliquid trading platform on Sunday and “started to pour”, according to Lookonchain on X.
Lookonchain said the portfolio had taken a two -week break after exchanging more than $ 4 billion in Bitcoin in the second half, nearly 36,000 BTC against Ether (ETH).
Whale movements can refer to the place where “intelligent monetary” interest is changing. Traders could see their movements suddenly after years of inactivity as having a negative impact, because they could unload the BTC on the free market and lower prices.
Bitcoin spilled wallet for ether
Lookonchain wrote to X on September 1 that the Bitcoin whale he followed in the previous two weeks had sold 35,991 BTC, worth more than $ 4 billion at the time, for Ether.
The ETH / BTC ratio has remained relatively flat since, but currently, the whale would lose nearly 460 BTC, worth around 53 million dollars, if they were to exchange their BTC assets.
The ETH / BTC ratio has been less than 0.05 since July of last year and succeeded in its peak of all time in mid-2017 to 0.14. It is currently 0.0401, winning 6% in the last month.
Bitcoin hovers at $ 116,000 in resistance
Meanwhile, Bitcoin experienced a resistance at $ 116,000, a price he has reached on Friday for the first time in about three weeks on August 23.
Bitcoin exchanged flat in the last 24 hours at $ 115,500, reaching a summit of $ 116,182 and a minimum of less than $ 115,000, having trouble breaking well above $ 116,000.
In relation: Bitcoin Trader says that “time to pay attention” to $ 115,000 BTC
It is down 7% compared to its summit of more than $ 124,000 on August 14.
Other whale wallets move Bitcoin
The latest sales of Bitcoin whales seen by Lookonchain follow other high -value wallets that have sold in recent weeks.
A portfolio that held nearly 445 bitcoin, which had not made a transaction for almost 13 years, made a transfer Thursday, sending part of their hiding place to the Crypto Exchange Kraken.
Earlier in September, a portfolio of nearly 480 Bitcoin also made transfers for the first time since 2012, apparently only to move their funds to a new address.
Trade secrets: Bitcoin to see ‘One More Big Thrust’ at $ 150,000, ETH pressure constructions