{"id":26203,"date":"2025-08-22T13:40:10","date_gmt":"2025-08-22T10:40:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=26203"},"modified":"2025-08-22T16:38:52","modified_gmt":"2025-08-22T13:38:52","slug":"dormant-bitcoin-whale-awakens-after-seven-years-acquires-270-million-in-ethereum","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/dormant-bitcoin-whale-awakens-after-seven-years-acquires-270-million-in-ethereum\/","title":{"rendered":"Dormant Bitcoin Whale Awakens After Seven Years, Acquires $270 Million in Ethereum"},"content":{"rendered":"<p>On August 22, a Bitcoin whale&#8217;s wallet, dormant for seven years, became active. Analysts at Lookonchain noted this development.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A Bitcoin OG who received 100,784 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>($642M) 7 years ago ended his dormancy recently\u2014 selling <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> while buying 62,914 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> ($267M) spot and opening a massive 135,265 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($577M) long position.<\/p>\n<p>We just spotted another Bitcoin OG depositing <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> into <a href=\"https:\/\/twitter.com\/hashtag\/Hyperliquid?src=hash&#038;ref_src=twsrc%5Etfw\">#Hyperliquid<\/a> to sell and buy\u2026 <a href=\"https:\/\/t.co\/qhebN276Lf\">pic.twitter.com\/qhebN276Lf<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1958767845934080277?ref_src=twsrc%5Etfw\">August 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The investor acquired 62,914 ETH (~$270 million) on the spot market and opened a long position for 135,265 ETH (~$580 million) in futures. This was achieved by selling part of the 100,784 BTC received seven years ago from exchanges HTX and Binance.<\/p>\n<p>Experts suggested this might be part of a unified strategy by an individual or organization controlling multiple wallets. On August 21, they recorded a similar operation: a Bitcoin whale dormant since 2018 sold 670 BTC (~$76 million) and acquired 68,130 ETH (~$295 million).<\/p>\n<p>Later, a crypto analyst using the pseudonym MLM noted that the user deposited another 1,000 BTC (~$113 million) into the decentralized exchange Hyperliquid. Instead of opening another long position through futures, they purchased Ethereum on the spot market.<\/p>\n<p>The total funds associated with what is presumed to be the same investor are estimated at 83,585 BTC (~$9.45 billion). These funds are distributed across six addresses in the Bitcoin and Ethereum networks.<\/p>\n<h2 class=\"wp-block-heading\">Community Reaction<\/h2>\n<p>Users interpreted the whale&#8217;s actions as a positive signal for Ethereum. A crypto enthusiast under the pseudonym Nomad responded to Lookonchain&#8217;s tweet, stating it &#8220;looks like the end of a BTC bull market.&#8221;\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Yeah, this really looks like the end of a BTC bull market, game over.<\/p>\n<p>\u2014 Nomad (@nomadBIP91) <a href=\"https:\/\/twitter.com\/nomadBIP91\/status\/1958772350822097254?ref_src=twsrc%5Etfw\">August 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>An investor known as Crypto Joe expressed optimism about Ethereum&#8217;s prospects, noting the significant number of whale purchases of the crypto asset.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">A lot of <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> buys coming in lately.<\/p>\n<p>Bullish.<\/p>\n<p>\u2014 Crypto Joe (@CryptoJoeReal) <a href=\"https:\/\/twitter.com\/CryptoJoeReal\/status\/1958769637052539179?ref_src=twsrc%5Etfw\">August 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The positive sentiment surrounding the second-largest cryptocurrency by market capitalization is underscored by ongoing inflows into ETFs based on the coin. On August 21, $287.61 million flowed into exchange-traded funds.\u00a0<\/p>\n<p>Earlier, former BitMEX CEO Arthur Hayes announced his purchase of Ethereum, predicting the coin&#8217;s rise to $20,000 within the current cycle.\u00a0<\/p>\n<p>Over the past 30 days, the asset&#8217;s price has increased by 10.7%. On August 13, the rate <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-nears-its-all-time-high-after-testing-4700\">tested<\/a> the $4,700 mark, approaching the all-time high of $4,878 (according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">CoinGecko<\/a>).\u00a0<\/p>\n<p>At the time of writing, Ethereum is trading at $4,315.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/AD_4nXekyRGJZHt0mL76ctFulhwPtGbishVVDHwhNxLvGW25mtb9KIEQQnjyiLB-cVcQXmPypKye1T6RZa2sHdRy_gqdmd4pGF7bnoIuB8XrJzzfabhwU75XlxmO_5fBILPtf8vm4v_vyg.webp\" alt=\"Dormant Bitcoin Whale Awakens After Seven Years, Acquires $270 Million in Ethereum\" class=\"wp-image-264409\"\/><figcaption class=\"wp-element-caption\">Hourly chart of ETH\/USD on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3AETHUSD\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>In the past month, Ethereum has outperformed Bitcoin in terms of dynamics (+14% versus -5.4%). Analysts at JPMorgan highlighted four main reasons for Ethereum&#8217;s dominance.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 22, a Bitcoin whale&#8217;s wallet, dormant for seven years, became active. Analysts at Lookonchain noted this development.<\/p>\n","protected":false},"author":1,"featured_media":26204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Users interpreted the investor's actions as a positive signal for Ethereum.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,46,1156],"class_list":["post-26203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-ethereum","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"650","promo_type":"1","layout_type":"1","short_excerpt":"Users interpreted the investor's actions as a positive signal for Ethereum.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/26203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=26203"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/26203\/revisions"}],"predecessor-version":[{"id":26205,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/26203\/revisions\/26205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26204"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=26203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=26203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=26203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}