Bitcoin Bounces to $117K Target as Whale Dumps $437M BTC to Buy $443M ETH
Bitcoin has reclaimed $111K support, sparking a rally toward a bold $117,000 resistance target—but the real story is unfolding off the price chart. A Satoshi-era whale has sold 3,968 BTC ($437M) and bought 96,531 ETH ($443M) in a single move, part of a $2.94B Ethereum accumulation spree
Bitcoin Recovery: $117K in Sight
After a sharp pullback tested $110,700–$111,000 support, Bitcoin has bounced back, trading near $111,033 with a 1% gain over 24 hours.
The rebound has reignited bullish momentum, with analysts eyeing the next key resistance:
- $117,000 – a level previously tested in July
- $123,200 – the upper end of the current channel
As trader TraderPA noted:
“$BTC reclaim done. $117K next.”
With support holding and volatility cooling, the path toward $117K is now open—if buyers maintain control.
Whale Activity Shifts: $437M BTC Sold, $443M ETH Bought
While Bitcoin stabilizes, on-chain data reveals a seismic shift in whale behavior.
A Satoshi-era whale—an early holder active since Bitcoin’s infancy—has executed a massive portfolio repositioning:
- Sold 3,968 BTC (~$437 million)
- Bought 96,531 ETH (~$443 million)
- Largest single ETH transfer: 23,598 ETH ($105.26M)
This isn’t isolated.
Over the past 14 hours, the whale moved billions in assets—reducing BTC exposure and doubling down on Ethereum.
Ethereum Accumulation Reaches $2.94 Billion in One Week
The scale of this shift is staggering.
In just seven days, the same whale has accumulated:
- Over 641,000 ETH
- Valued at $2.94 billion at current prices
This includes:
- Closing a 96,452 ETH long position on derivatives, locking in a $2.6M profit
- Shifting into spot ETH holdings—a vote of confidence in long-term value
Additional BTC outflows of ~1,000 BTC each (over $100M per transaction) suggest continued rebalancing across the two flagship assets.
Why This Whale Move Matters
This isn’t just one investor’s decision.
It’s a strategic signal from one of crypto’s most informed players.
🔍 What It Suggests:
- Ethereum is gaining favor as a yield-generating, institutional-grade asset
- Staking yields (3–6% APY) are attracting capital from non-yielding BTC
- The ETF narrative is expanding beyond Bitcoin to include ETH and DeFi
- Whales see better risk/reward in ETH at this stage of the cycle
As Bitcoin approaches resistance, smart money may be rotating into altseason precursors—and Ethereum is the clear leader.
Market Overview: BTC Holds, ETH Strengthens
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
|---|---|---|
| Price | $111,033 | ~$4,580 |
| 24h Change | +1% | Slightly positive |
| Trading Volume | $38.7B | High (driven by whale flows) |
| Key Level | Support at $111K, Resistance at $117K | Accumulation phase, whale demand rising |
Despite a 2% weekly drop for BTC, the technical structure remains intact.
And with whale capital flowing into ETH, the stage is set for a potential BTC/ETH ratio reversal.
What’s Next? Watch the Rotation
This whale’s move could mark the beginning of a broader trend:
- Institutions reallocating from BTC to ETH post-ETF approval
- Treasury firms like BitMine and SharpLink adding ETH
- DeFi and RWA growth boosting demand for Ethereum as infrastructure
If this rotation accelerates, Ethereum could outperform Bitcoin in the next market phase.
