Multiple Bitcoin whales rotate holdings into Ethereum while Strive accumulates BTC
Three large Bitcoin holders moved significant amounts between Oct 12-13, with two selling BTC for ETH on Hyperliquid and one dormant wallet reactivating, while Strive added 3,311 BTC to its treasury.
Why it matters
The coordinated rotation from Bitcoin into Ethereum by multiple large holders suggests shifting sentiment among major participants, while Strive's continued accumulation signals institutional confidence in Bitcoin. The ETH/BTC ratio dropping below a key technical level may indicate near-term relative weakness for Ethereum despite the whale buying.
Where the sources disagree
Amount of BTC sold by whales for ETH on Hyperliquid
410.14 BTC for 14,341 ETH
U.Today
837.8 BTC for 27,500 ETH
Bitcoin.com News
U.Today reports 410.14 BTC sold for 14,341 ETH while Bitcoin.com News reports a different whale sold 837.8 BTC for 27,500 ETH, indicating two separate whale rotations
Key facts
An anonymous whale sold 410.14 BTC worth approximately $34.16 million on Hyperliquid
410.14 BTCDisputed figureReported by U.Today
The same whale purchased 14,341 ETH worth approximately $36.14 million via decentralized exchanges
14,341 ETHDisputed figureReported by U.Today
A separate whale sold 837.8 BTC acquired near $95,434 and rotated $69.7 million into 27,500 ETH via Hyperliquid
837.8 BTCDisputed figureReported by Bitcoin.com News
Strive acquired 3,311 BTC over the past week, increasing total holdings to 32,773 BTC
3,311 BTCReported by CryptoPotato
Strive reported $208 million in warrant exercises with approximately 15.3 million warrants remaining expiring October 13 at 5pm ET
208,000,000 USDReported by CryptoPotato
ETH/BTC ratio fell below 0.03 on October 13 for the first time since August 19
0.03 ratioReported by Bitcoin.com News
Ethereum price hovered near $2,553, up 1.85% in 24 hours while Bitcoin rose 0.93% in the same period
1.85 %Reported by U.Today
What happened
On Oct 12, an anonymous whale sold 410.14 BTC worth $34.16 million on Hyperliquid and purchased 14,341 ETH worth $36.14 million via decentralized exchanges, according to Lookonchain data reported by U.Today. The following day, Bitcoin.com News reported a separate whale sold 837.8 BTC acquired near $95,434 and rotated $69.7 million into 27,500 ETH via Hyperliquid, while another dormant wallet holding 4,582 BTC ($377.6 million) inactive since August 2024 moved its entire balance into five new addresses. Concurrently, CryptoPotato reported Strive acquired 3,311 BTC over the past week, bringing its total holdings to 32,773 BTC, with CEO Matt Cole noting $208 million in warrant exercises. The ETH/BTC ratio fell below 0.03 on Oct 13 for the first time since August 19.
How the story developed
- First report
First report by U.Today
Bitcoin Whale Makes Massive $36 Million Ethereum Bet
- Update
First whale rotation reported
U.Today reports anonymous whale sells 410.14 BTC on Hyperliquid and buys 14,341 ETH via DEXs
- Official statement
Official statement from Bitcoin.com News
A $377M Bitcoin Whale Wakes up While Another Dumps BTC for Ether
- Update
Second whale rotation and dormant wallet activation reported
Bitcoin.com News reports separate whale sells 837.8 BTC for 27,500 ETH and 4,582 BTC dormant wallet reactivates
- Update
Strive announces BTC accumulation and warrant exercises
CryptoPotato reports Strive acquired 3,311 BTC reaching 32,773 total holdings with $208M warrant exercises
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 12 Oct 2026, 07:30 UTC: U.Today — 1 independent source, 1 reports
- 13 Oct 2026, 11:30 UTC: Bitcoin.com News, official — 2 independent sources, 2 reports
- 13 Oct 2026, 12:31 UTC: CryptoPotato — 3 independent sources, 3 reports
Affected entities
Also mentioned: Arbitrum
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Bitcoin.com News Company, official | A $377M Bitcoin Whale Wakes up While Another Dumps BTC for Ether | Independent | |
| U.Today Crypto media | Bitcoin Whale Makes Massive $36 Million Ethereum Bet | Original | |
| CryptoPotato Crypto media | Strive Adds 3,311 BTC in Another Massive Bitcoin Purchase | Independent |
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