Key Takeaways
How active are the whales in Bitcoin’s market right now?
A Bitcoin whale with over $10 billion in holdings transferred $363.9 million BTC to Hyperunit.
Why does this whale action matter?
The last time this whale acted this way, it bought $5 billion worth of ETH.
Blockchain analytics firm Arkham Intelligence has flagged a $363.9 million Bitcoin transfer by a whale wallet holding over $10 billion in BTC. As expected, the move spurred speculation that the entity may be accumulating Ethereum [ETH] once again.
Bitcoin whale activity reignites ETH speculation
According to Arkham’s alert on 7 October, the whale, identified as the “Hyperunit-BTC-Whale,” transferred roughly 3,000 BTC [worth $363.9 million] to Hyperunit – A trading and custody platform used for large-scale swaps.
Source: Arkham Intelligence
Two months ago, the same wallet transferred billions of dollars’ worth of Bitcoin through Hyperunit and subsequently, purchased $5 billion worth of ETH. That move coincided with a sharp, short-term rally in Ethereum’s price, with the same climbing by nearly 8% within 48 hours before correcting in the days that followed.
By 12 September, it had hit a high of around $4,700 on the price charts.
Thanks to the wallet’s latest transaction, there are rumours that the whale could once again be rotating holdings from BTC to ETH. Needless to say, such a pattern previously triggered market-wide attention.
Part of a wider whale accumulation trend?
This isn’t the first major whale movement of 2025 though. Earlier this year, a Satoshi-era wallet holding over 1,000 BTC became active for the first time in more than a decade. At the time, it transferred coins to new addresses.
Is the aforementioned rotation into ETH an anomaly though? Not quite. In fact, according to on-chain data from CryptoQuant, whale wallets have been gradually increasing their ETH holdings throughout Q3.
Source: CryptoQuant
If this latest Hyperunit transaction signals another ETH accumulation phase, it would reinforce the broader shift seen among large investors seeking diversification between Bitcoin and Ethereum.
Correction phases after strong weekly gains?
At press time, Bitcoin [BTC] was trading at around $121,277 – Down 2.76% over the last 24 hours after hitting a local high near $126,000.
The RSI [61.1] indicated a cooling of momentum after an overextended rally, hinting at profit-taking near key resistance levels.
Source: TradingView
Meanwhile, Ethereum’s price [ETH] slipped by 4.4% to $4,479, with the altcoin also entering a mild correction after a strong start to the week. An RSI reading of 54.07 alluded to neutral momentum as traders awaited confirmation of any new whale-driven inflows.
Source: TradingView
