A large cryptocurrency owner suddenly sold bitcoins for more than $ 4 billion

One of the long-time Bitcoin BTC $115,249.00 Mezo Wrapped BTC -1.06% Market capitalization $42.86 million VOL. 24 hours $1.28 billion holders, who sold more than $ 4 billion worth of cryptocurrency in August, has started selling off assets again after the price of BTC exceeded $ 116,000 for the first time in three weeks. According to Lookonchain, on Sunday, two wallets that had been holding the coins for more than eight years transferred 1,176 BTC (about $ 136 million) to the Hyperliquid platform and started selling.

In early September, the same owner had already exchanged 35,991 BTC worth more than $ 4 billion for Ethereum ETH $4,524.91 Bridged Ether (StarkGate) -3.04% Market capitalization $0.11 billion VOL. 24 hours $1.99 billion . At the same time, the ETH/BTC ratio remained relatively stable. If whale were to convert its ETH back to BTC now, it would lose about 460 BTC, which is equivalent to about $ 53 million. Currently, the ETH/BTC ratio stands at 0.0401, up 6% from a month ago, but well below the 2017 peak of 0.14.

Meanwhile, the price of Bitcoin remains in a narrow range around $ 115,500. Over the past day, the asset has fluctuated between $ 115,000 and $ 116,182, but has not been able to confidently overcome the $ 116,000 level. BTC is currently trading 7% lower than its August high of over $ 124,000.

The activation of this whale is taking place against the backdrop of other large wallets. For example, a wallet with almost 445 BTC that had been inactive for about 13 years recently transferred some of its coins to the Kraken exchange. Another wallet with about 480 BTC has made transactions for the first time since 2012 by transferring funds to a new address.

Sharp sales by major market players can affect traders' sentiment, as there are fears that large volumes of BTC will hit exchanges and put pressure on the price. Analysts note that the actions of such investors after a long pause indicate a possible change in market strategies and interest in Ethereum.