An ancient Whale sells 130 million dollars worth of Bitcoin after 8 years, having previously invested 4 billion dollars to swap for Ether.

On-chain data shows that a Bitcoin “ancient whale” holding coins for over 8 years has once again made a large-scale dump, attracting significant market attention. This early investor had only converted nearly 4 billion dollars worth of Bitcoin into Ether (ETH) last month, and now has sold over 130 million dollars worth of BTC. Additionally, multiple long-sleeping wallets have recently awakened collectively, adding uncertainty to the short-term trend of Bitcoin.

Whale strikes again: 1,176 BTC dumped into the market

(Source: Arkham)

Time: September 15

Amount: 1,176 BTC (approximately 136 million USD)

Action: Quickly dump after transferring to Hyperliquid

Identity: Associated with another address holding coins for over 8 years.

On-chain analysis firm Lookonchain pointed out that the Whale had dumped 35,991 BTC (approximately 40) within a short period of two weeks in late August.

100 million dollars) exchanged for 886,371 ETH, then went quiet for about two weeks, and now has taken action again.

Ethereum exchange success and failure are half and half

If the Whale were to exchange ETH back to BTC at this moment, it would incur a loss of approximately 640 BTC (around 74.38 million USD).

· ETH/BTC exchange rate: has been below 0.05 since July 2023

· Recent status: rebounded 6% in the past month, currently about 0.0401

· Historical high: reached 0.14 in 2017

This implies that the Whale's warehouse change strategy has not fully worked in the short term, but its actions still have an impact on market sentiment.

Sleeping Whales Collective Awakening

Recently, multiple long-term idle large Bitcoin wallets have seen fund transfers:

· Last week: An address that had not been traded for nearly 13 years and held about 445 BTC transferred some funds to Kraken.

· Earlier this month: Another Wallet that had been dormant since 2012 transferred nearly 480 BTC to a new address.

Market analysis suggests that the synchronized actions of these “ancient whales” are often seen as a shift in the attitude of smart money towards market trends, which may put pressure on short-term prices.

Market Impact and Investor Follow Points

Short-term risks: Whale dumping + sleeping Wallets awakening → Increased selling pressure

Mid-term observation: The ETH/BTC exchange rate trend may affect the subsequent position adjustments of Whales.

Long-term trend: Whale capital movements remain an important indicator for assessing market sentiment.

Conclusion

The continuous big moves of this 8-year veteran Bitcoin Whale, from swapping 4 billion USD BTC to ETH and then dumping 130 million USD BTC, undoubtedly sends shockwaves through the market. As more dormant whales awaken, investors need to closely follow the on-chain capital flow, as this could be a precursor to a short-term market reversal.