Ancient BitForex Whale Dumps 2,970 BTC and Piles Into ETH — Buys 50,470 ETH Spot and 135,263 ETH Longs

BTC

BTC/USDT

$71,354.77

+3.55%

$71,354.77

+3.55%

(24s)

24h Volume

$17,366,629,629.18

24h H/L

$71,554.95 / $68,531.50

Change: $3,023.45 (4.41%)

Long/Short

65.5%

Long: 65.5%Short: 34.5%

Funding Rate

-0.0023%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$71,351.87

▲ 2.98%

Volume (24h): -

Resistance Levels

Resistance 3$79,008.03

Resistance 2$75,548.63

Resistance 1$72,179.52

Price$71,351.87

Support 1$70,589.27

Support 2$67,300.00

Support 3$62,909.86

Pivot (PP):$70,598.27

Trend:Downtrend

RSI (14):35.3

On August 22, on-chain monitoring by @mlmabc and reporting from COINOTAG identified that an historical whale with funds traced to the BitForex hot wallet executed notable portfolio rotation: selling 2,970 BTC (≈$334M), purchasing 50,470 ETH spot (≈$215M) and initiating leveraged longs of 135,263 ETH on Hyperliquid (≈$575M). COINOTAG previously documented a Feb. 23 hot-wallet outflow of roughly $56M from BitForex, followed by user withdrawal processing delays. On July 20, BitForex announced a phased reopening of withdrawals after a five-month suspension, conditioned on KYC while trading and deposits remain suspended. These on-chain observations and reporting, including commentary from on-chain investigator ZachXBT, underscore continued scrutiny of exchange-linked liquidity and risk management.