Crypto Whale Buys $177M in BTC & ETH Ahead of Bitcoin Halving
On-chain analytics firm Lookonchain reports that wallet 0xd8d0 executed a crypto whale accumulation of 893 BTC and 20,000 ETH—totaling about $177 million—in just five hours. This crypto whale buy is viewed as a bullish market signal, driven by the Bitcoin halving event, Ethereum’s Dencun upgrade, macroeconomic uncertainty fueling crypto hedging, and anticipated institutional inflows via spot ETFs. By moving funds off exchanges into cold storage, the whale may tighten circulating supply and create upward price pressure on both BTC and ETH. Traders tracking this crypto whale move should monitor on-chain data and on-chain metrics, assess supply tightness, and combine these insights with technical analysis before trading.
Bullish
The large-scale purchase of 893 BTC and 20,000 ETH by the crypto whale is likely bullish for both assets. In the short term, moving significant funds off exchanges tightens available supply, potentially triggering immediate price gains. Over the longer term, such accumulation ahead of the Bitcoin halving and Ethereum’s scalability upgrade signals strong investor conviction and anticipates institutional inflows via spot ETFs, reinforcing uptrend momentum. However, traders should confirm signals with technical analysis and remain aware of market volatility.