Hyperliquid Bitcoin Whale Awakens: Massive Selling Spree Resumes
Whale alert: a dormant Hyperliquid Bitcoin address just reactivated—and it's dumping hard.
The Moves
Massive sell orders hitting the books. This isn't some retail panic—it's calculated, high-volume action from a player who's been quiet. Markets twitch when whales move, and this one's making waves.Timing & Impact
No coincidence this happens amid regulatory uncertainty and ETF flow drama. Whale moves often precede volatility spikes—smart money positioning or just cashing out at resistance? Either way, liquidity gets tested.Big Picture
Whales play a different game. They accumulate silently, exit loudly. Retail gets the headlines; institutions get the profits. Classic crypto—where the 'decentralized' dream meets centralized trading power.Stay sharp. Watch order books, not just price charts. And remember: in crypto, the house always wins—even when there's no house.
Sudden Turn After Years of Dormancy
The whale, who had held their Bitcoin with almost no movement for over eight years, shocked the market by liquidating 35,991 BTC—worth approximately $4.04 billion—starting on August 20. Following this massive sale, the investor bought 886,371 ethereum (ETH) of similar value on the Hyperliquid exchange before going dormant for about two weeks.
Lookonchain noted that this renewed selling activity began as Bitcoin’s price climbed above the $116,000 mark. While the current transfer is just over 1,000 BTC, the investor still holds about 49,000 BTC across four wallets.
After a two-week break, the #BitcoinOG who exchanged 35,991 $BTC($4.04B) for 886,371 $ETH($4.07B) is back to selling $BTC!
2 wallets linked to this #BitcoinOG have deposited 1,176 $BTC($136.2M) to Hyperliquid in the past 2 hours and started dumping.https://t.co/LTiJHW049j pic.twitter.com/L0m2bEG1J7
Two Scenarios for the Market
This situation presents two key possibilities. If the whale decides that $116,000 is an opportune profit-making price, the selling will likely continue at a larger volume. In this scenario, if new buyers do not emerge, the $116,000 mark could act as a significant resistance level.
The second possibility is that the investor will rotate out of Bitcoin and into ETH or other altcoins, like in August. This could trigger significant price volatility across the market.
Indeed, buying capital, suspected to be for this type of rotation, has already begun to FLOW into the market since last weekend, particularly into ETH and SOL. Lookonchain says Galaxy Digital alone accumulated over 1.2 million SOL—worth more than $300 million—in a single day.
Bitcoin’s price has rallied since the US CPI report was released last Thursday, recovering the $116,000 level for the first time in two weeks. However, a weekend correction has since brought the price to hover between the $115,000 and $116,000 range. As of this writing, bitcoin trades at $114,765 on the Binance exchange.
