Bitcoin Price Holds at $121,000: $360M Whale Transfer Sparks Rotation Toward Ethereum?

Jakarta, Pintu News – Blockchain analysis firm Arkham Intelligence reported a $363.9 million Bitcoin (BTC) transfer made by a “whale” wallet with a total holding of more than $10 billion in BTC.

This major move instantly sparked speculation among the crypto community, with many suspecting that the entity may be back to accumulating against Ethereum (ETH).

Then, how is the current Bitcoin price movement?

Bitcoin Price Drops 0.32% in 24 Hours

As of October 9, 2025, Bitcoin is trading at $121,957, or approximately Rp2,023,928,271, marking a 0.32% decline over the past 24 hours. During this period, BTC reached a daily low of Rp2,020,932,396 and a high of Rp2,067,382,488.

Currently, Bitcoin’s market capitalization sits at around Rp40,087 trillion, while 24-hour trading volume has dropped by 18% to Rp1,008 trillion.

Read also: Ethereum Price Falls to $4,400 (Oct 9): Despite the Dip, Optimism for ETH Remains High

Bitcoin Whale Activity Triggers Speculation of More ETH Purchases

According to an alert from Arkham Intelligence on October 7, a large wallet known as “Hyperunit-BTC-Whale” was recorded transferring around 3,000 BTC worth $363.9 million to Hyperunit, a trading and custodial platform commonly used for large asset exchanges.

About two months earlier, the same wallet had also transferred billions of dollars worth of Bitcoin through Hyperunit, and subsequently bought $5 billion worth of Ethereum. The action coincided with a brief spike in ETH price of nearly 8% in 48 hours, before correcting a few days later.

On September 12, the price of Ethereum had even touched a high of around $4,700.

Now, with this latest large transaction, rumors have resurfaced that the whale may again shift some of its holdings from BTC to ETH. Not surprisingly, patterns like this have previously attracted great attention from the crypto market at large.

Part of a Broader Whale Accumulation Trend?

This big whale move isn’t the first of its kind in 2025. Earlier this year, a Satoshi-era wallet holding over 1,000 BTC suddenly went active for the first time in over a decade and moved some of its coins to a new address.

Was the previously mentioned ownership switch from BTC to ETH just an anomaly? Not really. Based on on-chain data from CryptoQuant, whale wallets have gradually increased their ETH holdings throughout the third quarter (Q3) of 2025.

If this latest large transaction via Hyperunit signals the next phase of ETH accumulation, it further reinforces a broader trend where large investors are starting to diversify between Bitcoin and Ethereum.

Read also: Whale Crypto Opens $1.5 Million Long Position, XRP Aims for $3.65 Target Level!

Correction Phase After Strong Weekly Rise?

As of October 8, Bitcoin price was around $121,277, down about 2.76% in the last 24 hours after touching a local high of around $126,000.

The RSI indicator of 61.1 shows a decline in momentum after an overextended rally, indicating profit-taking at key resistance levels.

Meanwhile, Ethereum price also saw a 4.4% drop to $4,479, signaling a mild correction phase after a strong start to the week. The RSI at 54.07 shows that momentum is still neutral, while traders are waiting for confirmation of new inflows from whale activity.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• AMB Crypto. $10B Bitcoin whale moves $360M in BTC, fuels ETH rotation trends – Details. Accessed on October 9, 2025