Powell’s dovish remarks sparked $388M in Ethereum liquidations. A $642M Bitcoin-to-Ethereum whale trade suggests shifting institutional demand.
A seven-year-old Bitcoin wallet has surfaced, bringing volatility to the crypto market after a significant asset transfer. The wallet sold 100,784 BTC, valued at $642 million, and redirected the funds into Ethereum (ETH).
Whale’s $850 Million Bet Signals Major Shift from Bitcoin to Ethereum
Blockchain tracker confirmed the sale and reported that the whale purchased 62,914 ETH worth $270 million in spot transactions. In addition, the wallet opened a derivatives long position equal to 135,265 ETH, valued at $580 million.
The wallet activity underlines an institutional change of preference. Recent on-chain figures revealed that the Ethereum ETFs attracted $337.63 million in net inflows on Friday, while Bitcoin ETFs experienced outflows with a value of $23.15 million.
The tracker further noted that the wallet is connected to a number of others, which are probably run by the same holder. This reallocation highlights the role that ancient Bitcoin wealth plays in the cryptocurrency market.
Ethereum Rally Prompts A $388M Liquidation Following Fed Chair Remarks
After Ethereum shot past $4,885, it caused the greatest liquidation in the crypto market. Figures indicate that Ethereum-based liquidation positions totaled $388 million within 24 hours.
In total, $769 million was wiped out across the crypto market, affecting more than 183,000 traders. The single biggest hit was a $10 million ETH swap order on OKX. Analysts say the sharp liquidation highlights how vulnerable leveraged bets can become when prices move quickly.
ETH price spike followed comments from Federal Reserve Chair Jerome Powell, who signaled possible rate cuts in September. The macro boost pushed Ether nearly 15% higher in one day before dropping to its current price of $4,711. Meanwhile, Bitcoin managed a smaller 4% climb to $113,000.
Market watchers argue the rally is not only about monetary policy. Institutional purchases and treasury allocations have also boosted Ethereum’s status. This has fueled suggestions that Wall Street will adopt Ethereum as the preferred blockchain.
Analysts See New Momentum for Ethereum’s Run
Samir Kerbage, chief investment officer at Hashdex, described ETH’s breakout as a sign of investor demand beyond Bitcoin. He further predicted that ETH would even exceed $10,000 when stablecoin payment systems are in place in the US.
The rise in the number of stablecoins, tokenization, and smart contracts via Ethereum has increased this hope. The price target of $10,000 is no longer considered unrealistic. It has become a possibility now. ETH price has increased by 45% year-to-date, making it one of the best-performing major assets in 2025.
Analysts note that the strong rebound of ETH after significant liquidations is an indication of strong conviction in its potential over the long term. That ETH surpassed Bitcoin in gains and trading liquidations further proves its strength in the current market conditions.
For most traders, the latest surge is more than just another rally. It could be the turning point when Ethereum becomes a dominant player in the world of digital assets.
Tom Lee Says Ethereum Has 100x Returns Potential
As Ethereum established another all-time high, Tom Lee views the asset as a historical financial tipping point. According to Lee, ETH is comparable to the Gold Standard abandonment by the United States in 1971. He added that the change reshaped financial markets.
Lee also predicted there is a “very high probability” that Ethereum will eventually surpass Bitcoin in total market value. He recently became chairman of BitMine Immersion Technologies, which is aggressively building an ETH treasury. The company now holds 1.52 million ETH alongside 192 Bitcoin, making it the largest ETH treasury globally.
In one week, BitMine increased its ETH holdings by $1.7 billion, bringing its total value to $6.6 billion. The firm added over 373,000 ETH in that period as part of what Lee called the “alchemy of 5%” strategy. This plan aims to accumulate 5% of Ethereum’s total circulating supply, or about 6 million tokens.
Lee also forecasted that ETH could deliver a 100x return from current levels, driven by institutional adoption and treasury allocations.
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