While many investors used the dip to accumulate, one of the market’s most well-known whales made a dramatic move that caught analysts’ attention.
A Bitcoin whale, long regarded as having “diamond hands” for holding without selling for years, finally decided to part with some of its stash. According to Lookonchain, this wallet has been sitting on coins bought from Binance and HTX seven years ago. Out of its massive 14,837 BTC holdings, the whale sold 670.1 BTC—worth around $76 million.
Rather than cashing out, the whale immediately funneled the proceeds into Ethereum. Data shows the whale opened a massive long position worth 68,130 ETH (approximately $295 million). The entries came in around the $4,300 level, spread across four wallets, and leveraged at 10x—an extremely aggressive bet on ETH’s next move.
While this “diamond hands” whale rotated from Bitcoin into Ethereum, others reacted in the opposite direction. Three separate whales panic-sold ETH during the correction, unloading 17,972 ETH ($77.4 million), 13,521 ETH ($57.72 million), and 3,003 ETH ($12.89 million).
The contrasting whale activity underscores just how divided sentiment is in the current market. One long-term holder is making the boldest bet yet on Ethereum’s rally, while others are rushing to the exits.
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