Sep 1, 2025
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Bitcoin Whale Converts $215 Million into 48,942 ETH, Totaling $4.07 Billion
A notable Bitcoin investor has sold 2,000 BTC, valued at approximately $215 million, and converted it into 48,942 ETH. This increases their total Ethereum holdings to 886,371 ETH, worth over $4.07 billion. Nearly $1 billion of these purchases occurred recently.
- This shift indicates a bullish sentiment towards Ethereum.
- Joseph Lubin from Consensys predicts Ethereum's market could expand significantly, potentially surpassing Bitcoin.
- Longling Capital has resumed buying, acquiring 7,000 ETH ($30.6 million) after previously selling 5,000 ETH.
- Ethereum reached an all-time high of $4,953 on August 25 but has since corrected to around $4,388, a 6% drop.
- Analysts suggest consolidations are healthy for another upward movement towards the $5,000 resistance level.
- Ethereum's price stability above $4,360 may lead to further gains, targeting $4,750 and possibly $5,200.
The Relative Strength Index (RSI) is near 52, indicating a neutral trend but slightly bearish after previous overbought conditions. A decline below $4,360 could push ETH toward support at $4,100 and potentially lower. Whale activity suggests readiness for a significant price move.
