Bitcoin Whale Offloads $435M in BTC for 96,859 ETH During Aggressive 12-Hour Weekend Accumulation

Bitcoin whale swaps 4,000 BTC for 96,859 ETH in a 12-hour spree, showing growing interest in Ethereum.

Ethereum gains strength as whales diversify and shift focus from Bitcoin due to changing market signals.

Regulatory clarity boosts Ethereum's appeal with whales treating it as a main asset instead of a side bet.

A well-known Bitcoin whale exchanged 4,000 BTC for 96,859 ETH during a 12-hour buying spree this weekend. The transaction was valued at $435 million, according to blockchain tracking service Lookonchain. This move marks the latest step in a broader strategy that began in August.

The whale has accumulated over 837,000 ETH worth nearly $3.8 billion. This shift follows the reactivation of several dormant Bitcoin wallets linked to the same entity. Before this activity, the whale’s Bitcoin holdings exceeded $11 billion.

Ethereum Holdings Grow as Bitcoin Holdings Decline

The fact that the investor decides to swap out the bitcoins with Ethereum is a larger trend among long-term crypto holders. In the last couple of weeks, the same trends have been seen in other large investors. These changes often occur when market conditions favor altcoins, especially Ethereum.

On Monday, the whale deposited an additional 1,000 BTC into the decentralized exchange Hyperliquid. Such a step indicates that it is still interested in purchasing additional ETH. According to the market data, Ethereum has performed better than Bitcoin in the last month.

Whereas Bitcoin remained in the same direction, Ethereum has appreciated by nearly 24% in 30 days. Ether is currently trading around $4,424, whereas Bitcoin is around $108,000.

Market Conditions Support Ethereum Rotation

The recent passage of the GENIUS Act in the United States has contributed to market confidence. The law focuses on stablecoin regulation and marks the first federal step toward defining digital payment systems.

This regulatory clarity may be prompting whales to diversify their holdings. Ethereum offers staking rewards and powers smart contracts, unlike Bitcoin, which is primarily viewed as a store of value.

Analysts note that ETF flows in August favored Ethereum over Bitcoin. This trend may have influenced the whale’s allocation strategy.

Altcoins Attract Renewed Interest

The movement of funds from Bitcoin into Ethereum may signal the beginning of a broader shift. Historical patterns suggest capital often flows from Bitcoin into Ethereum, then into smaller altcoins during similar cycles.

Lookonchain also reported renewed activity from Longling Capital. The organization purchased 7,000 ETH valued at more than $30 million on the weekend. These buys represent a rising level of trust in the Ethereum place in the larger crypto economy.

Although most whales continue to hold their Bitcoin positions, some treat Ethereum as a core holding rather than a speculative asset. As Ethereum gains ground, other altcoins like Solana could follow in receiving capital inflows.