A longtime Bitcoin whale who sold around $4 billion worth of BTC for ETH in late August (~35,991 BTC) is now Dump again as Bitcoin hovers around $116,000. Two wallets associated with the address that has held Bitcoin for more than eight years recently moved 1,176 BTC (≈$136 million) to the Hyperliquid exchange for sale.
After the previous BTC to ETH swap, if the whale were to convert ETH back to BTC now, he would lose nearly 460 BTC (~$53 million) due to the unfavorable ETH/ BTC ratio. Meanwhile, Bitcoin is facing strong resistance at $116,000, a price level that was last seen about three weeks ago. At the same time, several other long-term whale wallets have also become active, including one that has been silent for nearly 13 years, indicating an increased movement of long-term holder during the accumulation phase.
