8-Year Bitcoin Holder Offloads Another $136M Following Massive $4B ETH Trade – Whales Dumping Again?

An eight-year Bitcoin holder resumed selling after a two-week pause, depositing 1,176 BTC worth $136.2 million to the Hyperliquid trading platform as Bitcoin tested $116,000 resistance ￰2￱ whale previously executed one of the largest Bitcoin-to-Ethereum rotations in crypto history, trading 35,991 BTC valued at $4.04 billion for 886,371 ETH worth $4.07 ￰3￱ Aug 20, the Bitcoin OG has sold 35,991 $BTC ($4.04B) and bought 886,371 $ETH ($4.07B) at a 0.0406 rate on #Hyperliquid. He still holds 49,634 $BTC ($5.43B) in 4 ￰4￱ — Lookonchain (@lookonchain) September 1, 2025 The renewed selling activity comes as BTC Inc CEO David Bailey claimed earlier this month that two massive whales prevented the cryptocurrency from reaching $150,000, with one whale eliminated and another halfway through ￰5￱ dormant Bitcoin addresses from 2011-2012 have awakened recently, creating selling pressure that contributed to Bitcoin’s struggle to maintain momentum above previous ￰6￱ whale’s ETH-BTC arbitrage position currently faces losses of approximately 460 BTC worth $53 million if reversed, as the ETH/BTC ratio has remained below 0.05 since July ￰7￱ Ethereum’s 155% rally since July and new all-time highs near $4,957, the ratio peaked at 0.14 in 2017 and currently sits around 0.0401 – 0.0403.) for 886,371 $ETH ($4.07B) is back to selling $BTC ! 2 wallets linked to this #BitcoinOG have deposited 1,176 $BTC ($136.2M) to Hyperliquid in the past 2 hours and started dumping. ￰0￱ ￰8￱ — Lookonchain (@lookonchain) September 14, 2025 Previous whale activity has shown sophisticated market timing, with one holder selling 24,000 BTC worth $2.7 billion in coordinated transactions that drove Bitcoin from $115,000 to $111,000 within ￰9￱ sudden liquidation occurred during weekend trading, when thinner volumes amplify the price impacts of large ￰10￱ early adopter rotated 400 BTC in August, worth approximately $45.5 million, into leveraged Ethereum positions using 3x and 10x leverage across four ￰11￱ whale opened combined long positions totaling 68,130 ETH worth $295 million, bridging funds back to the Ethereum mainnet after executing spot market ￰12￱ wallet activations accelerated throughout September, with addresses inactive since 2011-2013 transferring Bitcoin to exchanges, including ￰13￱ wallet holding 445 BTC made its first transaction in nearly 13 years, while another containing 480 BTC moved funds for the first time since ￰14￱ Bailey’s whale elimination theory suggests coordinated selling at specific price levels, with “one for 80k bitcoin and the other for 120k bitcoin.” Market analysis indicates the first whale completed massive liquidations while the second continues rotating substantial positions into altcoins. @DavidFBailey says Bitcoin needs to slay two massive whales before $150K as mystery holders dump billions. #Bitcoin #Whales ￰1￱ — ￰15￱ (@cryptonews) September 2, 2025 Technical Breakdown Indicates Deeper Correction Risks Bitcoin faces mounting technical challenges as whale selling coincides with bearish momentum indicators across multiple ￰16￱ 50-day exponential moving average at 113,465 now acts as resistance, while MACD signals turned negative with bearish crossovers confirming trend deterioration.), contributing over $1.3 trillion to Bitcoin’s market cap during the past 20 months alone.