Rebecca Cruz A massive $11B Bitcoin whale is back in action with a $360M BTC transfer after two months of silence, stirring speculation of another rotation into Ether.
The $11B Bitcoin Whale Returns After Two-Month Hiatus
The crypto world is buzzing again as the legendary Bitcoin whale once holding over $11 billion in BTC has resurfaced after two months of dormancy. Blockchain sleuths spotted a fresh $360 million Bitcoin transfer, sending shockwaves through traders and analysts. The move was directed toward DeFi protocol Hyperunit’s wallet “bc1pd,” hinting that the whale may be preparing for yet another strategic reshuffle similar to the one seen earlier this year.
This renewed activity marks the first major movement since August, when the Bitcoin whale rotated roughly $5 billion worth of BTC into Ether (ETH), making waves across the digital asset space and temporarily overtaking major treasury holders in ETH balance.
A $360 Million Bitcoin Transfer Rekindles Rotation Rumors
According to on-chain data from Arkham Intelligence, the latest Bitcoin whale transfer could foreshadow another large-scale rotation into Ether. In August, the same address sold nearly $2.6 billion worth of Bitcoin for a mix of $2.2 billion in spot ETH and a $577 million ETH perpetual long position a bold play that catalyzed similar moves by other big players.
Soon after that initial rotation, at least nine other Bitcoin whales joined the party, collectively purchasing $456 million in ETH within a single day. With the latest $360 million BTC movement, analysts are once again bracing for a potential wave of liquidity shifts between the two largest cryptocurrencies.
Bitcoin Whale Activity Adds to Market Pressure
The Bitcoin whale in question still holds around $5 billion worth of BTC in its main wallet, leaving the market on edge about possible sell-offs. Such large-scale movements often precede short-term volatility, particularly when Bitcoin’s price consolidates near critical resistance zones.
Experts note that if the whale continues rotating BTC into ETH, it could apply downward pressure on Bitcoin’s short-term price while simultaneously fueling Ether’s momentum. However, many analysts believe the Bitcoin whale’s maneuvers reflect broader portfolio diversification rather than an outright exit from BTC.
Ryan Lee, Chief Analyst at Bitget, noted that Bitcoin continues to attract long-term investors seeking protection from macroeconomic uncertainty. He emphasized that Bitcoin’s scarcity and divisibility keep reinforcing its identity as “digital gold” a hedge against growing U.S. debt and the looming government shutdown.
Dormant Bitcoin Holders Join the Movement
Adding to the intrigue, long-term holders those inactive for three to five years have also entered the spotlight. According to data from CryptoQuant, these holders moved a whopping 32,300 Bitcoin (worth $3.93 billion) to exchanges this week, marking the largest dormant transfer of 2025.
Analyst Willy Woo pointed out that the majority of Bitcoin whales with massive holdings date back to Bitcoin’s earliest days, often buying BTC under $10. These “OG whales” have an outsized influence on Bitcoin’s liquidity, meaning even small movements from them can sway market dynamics.
Woo highlighted that this differential in cost basis and selling behavior creates significant friction in Bitcoin’s price discovery emphasizing just how crucial whale actions are in the broader market cycle.
Bitcoin Whale Influence on Market Cycles
Despite the whale-led turbulence, market analysts at Matrixport remain confident that Bitcoin will maintain its leadership position in the crypto market. The firm noted that Bitcoin dominance which briefly dipped as ETH and select altcoins outperformed has begun to rebound, signaling a potential shift back toward Bitcoin-led market cycles.
Matrixport added that although the community continues to anticipate a broad “altcoin season,” current rallies are still limited to selective tokens. This suggests Bitcoin’s narrative as the ultimate safe haven in crypto remains intact, even amid heavy Bitcoin whale movements and capital rotations.
What the Bitcoin Whale’s Return Could Mean for Investors
For seasoned traders and newcomers alike, the Bitcoin whale’s comeback serves as a reminder of how quickly sentiment can shift in crypto. Each whale movement is closely scrutinized, not only for its sheer size but also for the potential domino effect it can trigger across DeFi ecosystems and altcoin markets.
If history is any guide, this $360 million transfer could be the start of another liquidity migration one that tests Bitcoin’s resilience while igniting fresh volatility in ETH pairs. Investors are keeping a close eye on on-chain metrics for further clues on the whale’s next move.
Whether this marks another portfolio reshuffle or a broader market signal, one thing is clear the Bitcoin whale is back, and its splash is already rippling across the crypto ocean.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
