According to Arkham monitoring, a prominent BTC whale that previously pivoted from ETH routed an additional 1,000 BTC (≈$1.0844 billion) into Hyperliquid to execute an ETH swap. Over a 10‑hour span the address deposited a cumulative 4,000 BTC (≈$4.3376 billion) and proceeded with conversions into Ethereum. On‑chain records show transfers to custodial and trading addresses linked with Hyperliquid, consistent with large‑scale portfolio rebalancing rather than retail flow. This is a factual account of blockchain movements; any effects on spot liquidity or bid‑ask spreads depend on subsequent order execution and market absorption rather than the transfers alone.
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