Bitcoin Whale Sells 34,110 BTC to Acquire 813,298 ETH in $36.6B Rebalance into Ethereum

COINOTAG reported on August 31, citing on-chain monitoring by @mlmabc, that a high-profile Bitcoin whale executed significant reallocations: the address sold 7,000 BTC (≈$7.59 billion) over 46 hours and acquired 171,791.84 ETH (≈$7.73 billion), according to blockchain transaction records.

Chain data shows the same wallet still holds 3,000 BTC in an address beginning with 169qY and a broader holding of 46,816 BTC (≈$50.7 billion). Over the last 11 days, on-chain flows record sales of 34,110 BTC and purchases of 813,298.84 ETH, reflecting material portfolio rotation between BTC and ETH.

These figures are drawn from public on-chain analytics and do not disclose the holder’s motives; market participants should note that large transfers could affect liquidity and price dynamics depending on execution, while the wallet’s true intentions remain undisclosed.