Top Crypto Whale Activity: Ancient Bitcoin Wallets Move, Ethereum Sell-Offs Hit, Solana Rallies

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Crypto whales drove a lot of force into the crypto market this week as dormant Bitcoin wallets woke up, Ethereum whales moved hundreds of millions in and out of exchanges, and institutions poured in massive amounts of money into Solana, XRP and other alts.

These crypto whale activities didn’t just make headlines; they impacted the crypto rally. From causing sudden dips to fueling surges.

Bitcoin Whales: Profit-Taking and Volatility

Bitcoin’s big holders have been active. Just this week, an 8-year dormant whale came out of hibernation, sent 1,176 BTC ($136M) to Hyperliquid and started selling. This coincided with Bitcoin testing resistance at $116k. The selling by this and other whales kept $BTC stuck in the $108k-$116k range.

Another report of a dormant ancient whale wallet that moved 99BTC ($11.5 Million) also surfaced. The dormant address was inactive for almost 12 years before this transfer. The coins were sent to a new, unrelated address, so experts speculate that the move might not be for sale but for security or consolidation.

Earlier this month, another whale dumped 24,000 BTC ($2.7B) in one go, causing a flash crash in $BTC price. These episodes show how one whale’s sell can cause dips when liquidity is low.

Meanwhile, reports say Bitcoin whales have sold around 115,000 BTC so far this September, the biggest outflow since 2022. Arkham Intelligence and Nansen data show some whales moved funds into USDC, a classic risk-off move with macro uncertainty.

Overall, whales are cautious on $BTC, selling into strength and waiting for trends to clear. This selling vs. the persistent Bitcoin ETF inflows resulted in a tug-of-war for $BTC price.

Also read: Ancient Bitcoin Wallet Moves 99 BTC: Hidden Supply or Just Security? 

Ethereum Whale Activities

Ethereum whales have been both buying and selling this week. On-chain trackers (Lookonchain) reported massive $ETH withdrawals: one new wallet pulled 4,208 ETH ($19.5M) from Binance, another 5,297 ETH ($24.7M) from Binance/Bitget and a FalconX custodial wallet sent 13,322 ETH ($61.6M) off-exchange.

Another big transfer was 21,925 ETH ($102M) from Kraken. In total, whales reportedly moved around 20,000 ETH ($208M) out of exchanges in 40 minutes. These moves are typically seen as long-term accumulation, meaning whales are staking or holding instead of selling.

But towards the end of the week, the tone changed. Reports shared that Ethereum whales sold off 90,000 ETH ($500M) over 48 hours. Santiment data charted by analyst Ali Martinez shows this coincided with a 6.5% drop in $ETH.

This big sell-off is profit-taking after Ethereum’s big run-up. The mix of big buys and sells means different whale cohorts have different strategies: some accumulating during consolidations, others locking in gains at key levels.

Lookonchain reported one whale spent $112.34M USDC to buy 25,000 ETH. Separately, another whale withdrew 15,200 ETH ($70M) from Binance within hours.

Conversely, reports came that Ethereum whales bought 820,000 ETH worth $3.80 billion, in the last 72 hours.

In summary, the biggest Ethereum holders are repositioning, buying dips and selling rips. 

Altcoin Whales: SOL, DOGE, and XRP

Whales are also targeting altcoins. This week, Galaxy Digital, along with Multicoin Capital and Jump Crypto, reportedly bought 1.2 million SOL on Sep 14–15 ($306M). The purchases were triggered by a $1.65B private placement in a Solana treasury vehicle. Over 5 days, Galaxy accumulated 6.5M SOL ($1.55B).

This institutional buying has sent $SOL up 30% looking at the 30-day record. FalconX also withdrew 118k SOL ($28M) from Binance, further reducing supply. These moves, along with record Solana DeFi TVL and ETF speculation, have whales piling into $SOL.

A recent report showed that Dogecoin whales dumped $181 million worth of $DOGE over 4 days and reduced their holdings by 680 million DOGE. This led to a 13% price drop from Dogecoin’s recent high.

$XRP whales have been active too. One whale sent 16.4M XRP ($50M) to Coinbase. When large amounts move onto exchanges, it usually means selling is imminent. This comes even as $XRP’s holder count hit a new ATH (6.99M addresses). In other words, while network growth is strong, concentrated whale deposits could put pressure on the price.

Major Crypto Whale Activities this Week 

Also read: Red Flags Over Bitcoin: Analyst Points to Signs of Price Manipulation

Impact on the Crypto Rally

Crypto whale activities have often preceded market moves. The Bitcoin and Ethereum sells contributed to the recent pullbacks and volatility. The 90k ETH dump coincided with an $ETH correction. When whales sell, it liquidates leveraged positions, making the swings deeper.

As the experts  note, “coordinated whale selling” is making it hard for $BTC and $ETH to break above resistance. These are the kinds of moves that show how market depth can be overwhelmed by a few large players.

On the other hand, whale accumulation can fuel rallies. The Galaxy Digital $SOL buy helped spark Solana’s latest leg up. Experts say whale accumulation often precedes price advances if selling doesn’t kick in.

Overall, this week’s data is mixed. Some whales are rotating out of Bitcoin and Ethereum into altcoins or even fiat via stablecoins while others are using dips to accumulate key assets.

The net effect on the market is that short-term swings are amplified. Whale outflows have caused corrections, while whale inflows and positive on-chain trends sustain the bull case. Institutional demand is strong, but it appears whales are being opportunistic.

Conclusion

Based on the latest research, crypto whale activities this week have had a big impact on the market. Big Bitcoin holders resurfaced to sell $136M worth of $BTC and keep the price down. Ethereum whales bought $ETH from exchanges (20k ETH) and took profits by selling 90k ETH. Altcoin whales poured into XRP and especially Solan,a where Galaxy Digital bought $306M of SOL.

 Whales are driving volatility and signaling trends; their big trades are both a cause and effect of short-term price swings in the crypto rally.

Stay up to date with expert analysis and price predictions by visiting our crypto news platform.

Summary

This week was a big one for whales. An 8 year dormant Bitcoin whale sold, Ethereum whales withdrew from exchanges (accumulation) and then sold again. Institutional whales also drove alt rallies: Galaxy Digital bought $306M of Solana. Big trades caused volatility but also conviction in certain tokens.

Glossary

Whale: A big crypto holder or investor whose trades move the market.

Accumulation: Buying or holding an asset, often by whales expecting to make money.

Distribution: Selling pressure, when holders sell an asset.

ETF (Exchange-Traded Fund): A regulated product; e.g. Bitcoin or Ethereum ETFs that allows institutional money to flow in. 

On-chain Data: Data from the blockchain (wallet balances, transactions) to track whale moves.

Frequently Asked Questions About Crypto Whale Activities this Week

What is a cryptocurrency whale?

A “whale” is an individual or entity holding a lot of crypto. Whales can move the market by buying or selling big.

How do whale moves affect crypto prices?

Big buys can push prices up by reducing supply, big sells especially into illiquid markets can cause price drops and liquidations.

Which whales were active this week?

Major moves included an 8-year Bitcoin whale selling 1,176 BTC, Ethereum whales buying 20k ETH off exchanges then selling 90k ETH, and Galaxy Digital buying 1.2M SOL. A whale bought 25k ETH after the Fed cut rates and a whale moved 16.4M XRP to Coinbase.

What does recent whale activity mean for the crypto rally?

Some whales are selling into strength and could slow or pull back rallies, others are accumulating in altcoins and could fuel the next leg up. Current data shows Bitcoin/ETH whales selling into strength, but altcoin whales are bullish, which may signify market rotation.