Skip to main content

Bitcoin OG Sells 2,000 BTC To Buy Ethereum – Capital Rotation Accelerates

Ethereum is once again in the spotlight as institutional demand and whale accumulation continue to shape the market, even in the face of a recent correction. Despite price retracements that have introduced uncertainty, the broader trend reveals that large investors are steadily rotating capital into ETH. Headlines about whales moving significant amounts of funds to accumulate Ethereum have dominated the news cycle, reinforcing the view that ETH remains a cornerstone asset for the next phase of the market.

One of the most notable players driving this trend is a massive Bitcoin OG wallet that has repeatedly caught analysts’ attention. According to Lookonchain, this whale has sold another 2,000 BTC, worth approximately $215 million, and immediately purchased 48,942 ETH ($215M) spot over the past four hours. This aggressive move adds to an already substantial position, reflecting a decisive capital rotation strategy away from Bitcoin and into Ethereum.

Such transactions highlight the growing confidence among whales and institutions in Ethereum’s long-term value, particularly as network activity and adoption remain robust. While short-term volatility continues, these large-scale moves point to a deeper underlying trend: Ethereum’s role as the leading alternative to Bitcoin is strengthening, and the market is preparing for the next stage.

Whale Accumulation Sparks Ethereum Speculation

According to Lookonchain, the Bitcoin OG investor has now accumulated an astonishing 886,371 ETH, valued at approximately $4.07 billion. This massive accumulation has quickly become one of the most discussed developments in the crypto market, sparking intense speculation about Ethereum’s trajectory in the months ahead. Many analysts view this as a clear case of “smart money positioning,” with whales and institutions increasingly treating Ethereum as the leading alternative to Bitcoin in the ongoing capital rotation.

Bitcoin OG buys 48,942 Ethereum ($215M) spot | Source: Lookonchain

The scale of these purchases suggests more than simple speculation. Large players are signaling confidence in Ethereum’s long-term role, especially given its dominance in DeFi, stablecoins, and network activity. By staking much of these holdings, the whale also demonstrates conviction in Ethereum’s ability to generate yield while securing the network, further underscoring ETH’s utility beyond price speculation.

However, risks remain. Bitcoin has struggled to maintain its uptrend, and uncertainty around its ability to recover momentum weighs heavily on the broader market. At the same time, several altcoins are facing steep corrections, highlighting the fragility of sentiment during this phase.

Testing Support Amid Consolidation

Ethereum (ETH) is currently trading around $4,414 after another failed attempt to break above the $4,500 resistance zone. The chart shows ETH stuck in a consolidation phase, with price action forming a sideways range since mid-August. Despite recent volatility, ETH remains above the 200-day SMA near $4,220, a critical support that continues to attract buyers during dips.

ETH consolidates around key price levels | Source: ETHUSDT chart on TradingView

The 50-day and 100-day SMAs, now clustered around $4,460, are acting as dynamic resistance, keeping upside momentum capped. Each rejection from this zone highlights market hesitation, as traders await confirmation of direction. If ETH holds above $4,400, a push back toward $4,600–$4,800 remains possible. However, a breakdown below $4,300 could trigger further downside toward the $4,200 support region.

Momentum indicators suggest a cooling phase after Ethereum’s strong rally in July and early August. Price compression here signals that the market is preparing for its next significant move. Fundamentally, on-chain data showing whale accumulation and shrinking exchange reserves continues to support a bullish longer-term outlook.

Featured image from Dall-E, chart from TradingView



from Bitcoinist.com https://ift.tt/eBcYbzp
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin ETFs Post Second Straight Week Of $500 Million Outflow — Details

The US-based spot Bitcoin ETFs (exchange-traded funds) recorded their second consecutive week of significant outflows over the last five-day trading period. This recent run of disappointing performances reflects the ongoing shift in investor sentiment in the United States. Over the past year, strong inflows into the US Bitcoin ETF market have constantly been associated with positive action for the BTC price. Fittingly, the price of Bitcoin has been consolidating over the past few weeks, struggling to pick up any real momentum. Bitcoin ETFs Record Fourth Consecutive Outflow Day According to the latest market data , the US Bitcoin ETFs registered a total daily outflow of $62.77 million on Friday, February 21. This latest round of withdrawals marked the fourth straight day (and the eighth day in the last nine trading days) that the crypto-based products would witness a net capital outflow. The Grayscale Bitcoin Trust (with the ticker GBTC) accounted for a larger percentage of Friday’...
Post a Comment
Read more

Bitcoin Remains Range-Bound As Volatility Declines – Analyst Explains Price Action

Bitcoin has experienced frustrating price action in recent weeks, leaving investors impatient about its short-term direction. The price has been testing crucial supply levels between $98K and $100K, struggling to break out as uncertainty dominates the market. The lack of a clear move has led to speculation about whether BTC is preparing for a breakout or another correction. Adding to the uncertainty, the market was hit by negative news on Friday when crypto exchange Bybit was hacked, resulting in the theft of $1.4 billion in ETH. The incident caused fear and volatility, briefly dragging prices lower. However, Bybit responded quickly to reassure investors, easing some of the initial panic and stabilizing the market. Despite this, Bitcoin continues to consolidate in a tight range. Crypto expert Daan shared an analysis on X, noting that BTC is still ranging while volatility is steadily decreasing. As price compression increases, traders are on high alert for a potential explosive move....
Post a Comment
Read more

OpenSea Dodges A Bullet As SEC Drops Investigation—Details

In a move that many in the crypto industry view as a positive signal, the US Securities and Exchange Commission (SEC) has officially discontinued its investigation into OpenSea, the leading NFT marketplace. This decision concludes months of uncertainty regarding the regulatory status of NFTs and their classification under US securities laws. SEC Decision Signals A Shift On February 21, 2025, Devin Finzer, the CEO and co-founder of OpenSea, said the SEC will not take any enforcement action against the firm. This comes following the August 2024 Wells Notice to OpenSea issued by the SEC, which indicated the possibility of legal action on alleged unregistered securities offenses. The outcome of this case suggests a possible shift in the way authorities handle NFTs, therefore affecting the whole scene of digital assets. For the industry, this outcome has been seen as a major turning point. Though they are in rivalry with OpenSea, Chris Akhavan, the Chief Business Officer of Magic Eden,...
Post a Comment
Read more