Bitcoin ‘Ancient Whale’ Sells 550 BTC Leveraged Longs, Converts $295M Into Ethereum—Purchases 19,794 ETH via Hyperliquid

COINOTAG News, August 21 — According to LookIntoChain monitoring, a Bitcoin whale that previously exited 550 BTC in Ethereum leveraged longs is materially reducing a position of 68,130 ETH, transitioning from derivative exposure to ETH spot holdings.

On-chain flows show the entity deposited 1000 BTC to Hyperliquid within a six-hour window (approximately $113.95 million) to acquire spot ETH; records indicate it has so far purchased 19,794 ETH (circa $85 million).

The movement denotes a deliberate shift from leveraged positions toward direct ownership, consistent with portfolio rebalancing rather than speculative commentary; the figures are reported from monitoring data and reflect executed on-chain transactions.