Bitcoin Whale Moves $360M to DeFi After $5B ETH Swap
Bitcoin whale moves $360 million in BTC to Hyperunit DeFi protocol, marking its first BTC transfer since swapping over $5 billion into ETH in August. The Bitcoin whale still holds more than $5 billion in BTC, indicating potential sell pressure. At the same time, dormant holders moved 32,300 BTC (worth $3.93 billion) to exchanges—the largest long-term transfer of the year. Analysts link renewed whale activity and dormant-coin flows to short-term volatility and possible rotation into ETH, while Matrixport forecasts a rebound in Bitcoin dominance. Traders should monitor these BTC transfers and market signals closely.
Bearish
The whale’s first BTC move in two months and its retention of over $5 billion in BTC suggest looming sell pressure. Concurrently, 32,300 BTC moved from dormant addresses to exchanges, increasing supply and risking short-term sell-offs. Historically, such large holder and dormant-coin activity tends to weigh on BTC price, making the near-term outlook bearish for Bitcoin.