Bitcoin Whale Moves $188M After 7 Years; Ethereum Rotation Continues

A bitcoin address that sat untouched for seven years moved 2,931 BTC worth $188 million to a new wallet on Sunday. Hours later, onchain analysts flagged a separate whale that has now converted 17,385 ETH, roughly $31 million, into 496.3 BTC.

Lookonchain identified the first transfer, noting the address received the coins when BTC traded at $6,513. The stash is now worth nearly ten times its original value. The coins moved to a fresh wallet rather than an exchange, suggesting the transfer may be for security upgrades or OTC deals rather than immediate sale. However, traders monitor such awakenings as they can precede selling pressure.

This movement extends a 2026 pattern: in May, eleven long-dormant addresses moved $69 million in bitcoin, and two others deposited 1,650 BTC worth $127 million into Falconx. Analysts are divided on whether this reflects cashing out, repositioning, or routine housekeeping.

The second whale, tracked by EmberCN, has swapped 17,385 ETH for 496.3 BTC at an ETH/BTC rate around 0.0285. An earlier tranche of 13,708 ETH went through at 0.02855. This trader has consistently sold ETH for BTC on rebounds, betting ether will underperform bitcoin. So far in 2026, that bet has paid off: ETH traded near $1,780 against BTC’s $63,000, with the ETH/BTC ratio near multiyear lows. Onchain data shows bitcoin whale addresses hitting 2026 highs while large holders trim ether exposure.

Bitcoin is trading around $63,000, down 2% over 24 hours.

Source: https://news.bitcoin.com/a-bitcoin-whale-just-woke-up-with-188m-after-7-years-heres-what-else-moved/