Bitcoin whale shifts $76m into Ethereum with leveraged bets amid ‘Ethereum season’

  • Whale opened $295m ETH longs with up to 10x leverage.
  • ETH ETFs attracted one year’s worth of inflows in six weeks.
  • Institutional ETH reserves surged from $6bn to $17bn in a month.

An old Bitcoin (BTC) whale has moved millions into Ethereum (ETH), marking one of the largest visible portfolio shifts this quarter.

Blockchain data shows the whale deposited $76 million worth of BTC into Hyperliquid, sold it, and then opened leveraged long positions in ETH across multiple wallets.

This transition comes at a time when Ethereum is outperforming Bitcoin, both in returns and institutional inflows, a trend some are calling the start of an “Ethereum season.”

The move also coincides with surging ETH exchange-traded fund (ETF) inflows and growing treasury allocations to altcoins.

Whale repositions holdings into Ethereum

According to blockchain analytics firm Lookonchain, the whale originally acquired 14,837 BTC seven years ago from HTX and Binance at an average cost of $7,242 per coin.

That purchase, worth $107.5 million at the time, has since grown to more than $1.6 billion.

Recent transactions show the whale deposited 670.1 BTC, valued at $76 million, into the decentralised trading platform Hyperliquid.

Following the sale, they initiated long positions worth 68,130 ETH (around $295 million) across four wallets.

Most trades were executed with leverage of up to 10x, amplifying potential gains or losses.

Latest HypurrScan data revealed that all of the whale’s wallets are now facing unrealised losses totalling $1.8 million.

Despite that, the large-scale diversification highlights a clear shift towards ETH during a period when its performance is outpacing BTC.

Market data from Coinglass shows ETH has delivered a 71.91% return so far in the third quarter, compared to just 6.28% for BTC.

Ethereum’s gains have pushed analysts to identify the current period as “Ethereum season,” where capital is increasingly flowing into ETH instead of Bitcoin.

The momentum has been mirrored in market activity, with Ethereum consistently outpacing Bitcoin in daily returns since the start of the quarter.

Institutional shift fuels Ethereum demand

Institutional interest in Ethereum has risen sharply. Corporate purchases of Bitcoin for treasury reserves have declined, with just 2.8 companies per day adding BTC to their holdings. By contrast, Ethereum is seeing sustained inflows.

The Strategic ETH Reserve website reported that ETH holdings by institutional entities rose from $6 billion to $17 billion in the past month, representing an 183% increase.

This accumulation points to confidence in Ethereum’s market trajectory and its positioning in the broader crypto cycle.

The whale’s leveraged entry into ETH aligns with this wider trend, suggesting individual and institutional strategies are converging on Ethereum as the asset leading the altcoin phase of the cycle.

Ethereum season signals next altcoin cycle phase

Ethereum’s surge is widely viewed as part of the broader “altseason” cycle. In this framework, capital first flows into Bitcoin, then Ethereum, and eventually spreads across other altcoins before a peak.

With ETH already outperforming BTC in both Q2 and Q3, and institutional investment accelerating, analysts suggest the market may now be entering the second phase of the altcoin cycle.

The whale’s move to convert part of its BTC into ETH reflects this trend, with its $76 million bet highlighting how long-term holders are adapting to market shifts.

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Morpho price jumps 12% to lead market gainers

  • Morpho price rose 12% to hit a six-month high of $2.38.
  • Ecosystem developments and market sentiment has helped MORPHO up.
  • Bulls could target the peak of $4.17 reached in January.

Morpho (MORPHO), native to the decentralized lending protocol, has climbed more than 12% in the past 24 hours to emerge as one of the top gainers in the crypto market.

The uptick has pushed MORPHO to price levels seen in early March, with daily volume rising as key network developments catalyze bullish movement. MORPHO traded to highs of $2.38 and its market cap reached over $773 million..

Morpho surges to 6-month high

The MORPHO token has reached its highest value in six months, with bulls strengthening since hitting lows of $0.85 in April. Morpho price hovered around $2.38 and the zone in early March.

With buyers pushing higher after a period of consolidation, MORPHO has struck upward momentum amid heightened market interest.

Largely, traders see the token’s strong fundamentals and the protocol’s innovative approach to lending as a bullish factor.

Morpho price chart by CoinMarketCap

After hitting lows of $0.7 in November, MORPHO has jumped over 230% to its current levels. Gains also put the altcoin about 44% of its all-time peak of $4.17 reached in January 2025.

The token’s performance, which comes amid a 47% spike in daily volume, has MORPHO outpacing most top gainers on the day.

Key ecosystem developments buoy MORPHO price

Several recent developments within the Morpho ecosystem are believed to be the catalysts behind this price jump.

Centrifuge, a platform specializing in real-world asset (RWA) tokenization, has announced key integrations with Coinbase, Aerodrome Finance and Bitget among others. This integration, announced on Aug. 20, 2025, will also offer collateral support for Morpho.

According to Morpho Labs, the move allows the protocol to expand its offerings by incorporating decentralized RWA tokens, enhancing its lending capabilities and attracting new users.

MORPHO also surged after industry players launched Ascend.

Why is this important?

Centrifuge’s announcement emphasized the potential for Morpho to unlock liquidity for tokenized assets, a move that has sparked optimism among investors.

Additionally, Gauntlet, a risk management firm, shared insights about Morpho’s updated risk parameters, which were refined to optimize lending efficiency.

The confluence of these technical enhancements, partnerships and integrations are creating a positive narrative for MORPHO.

Price is likely to jump higher as retail and institutional holders bid to increase their stakes.

As the DeFi sector continues to evolve, Morpho’s ability to leverage RWA integration and robust risk management could solidify its position as a key player.

For now, the 12% price jump serves as a testament to the project’s resilience and potential, drawing significant attention in today’s market.

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XRP price forecast as bulls and bears face off near $3

  • XRP price hovered around $2.88 after this week’s dip.
  • After a broader market downswing, XRP losses have hit 10% for the past seven days.
  • Bulls face pressure near $3 but tailwinds could help them rip to a new peak.

XRP trader around $2.88 with buyers trying to flip positive amid downside pressure, with sellers having taken out bulls near the $3 mark.

As the Ripple token grapples with bearish sentiment that cuts across a volatile cryptocurrency market, weekly losses have jumped to over 10% and XRP risks further losses.

But could positive developments, including regulatory clarity and growing institutional interest, provide tailwinds for XRP’s potential rebound?

XRP price dips as weekly losses mount

XRP has declined by about 10% in the past week, and is trading around $2.88 as of writing on August 21, 2025.

The dip sees the Ripple cryptocurrency extend its drift from recent highs of $3.40, with downside action over the past week exceeding -10%.

Notably, this sees XRP form a downtrend line and slip below its 50-day simple moving average. As a critical technical indicator, this slip under the 50 SMA signals weakening momentum.

While this drop aligns with broader market dynamics, which has seen Bitcoin drop to $113k and Ethereum pare gains, XRP faces downward pressure amid notable whale selling.

Onchain data indicates whales have dumped about 460 million XRP in a little over a week, with bulls facing off with bears near the $3 mark.

XRP price forecast: tailwinds and technical outlook

Risk-off sentiment has engulfed a large part of the market as investors become jittery amid macro headwinds.

Inflation data, including a surprise surge in the US producer price index in July, added to the uncertainty. Geopolitical events and the upcoming Jackson Hole symposium, where Federal Reserve Chair Jerome Powell is expected to speak, are key events this week.

For the latter, XRP holders are as upbeat as the rest of the market.

Investors are braced for any potential signals that the Fed will cut interest rates, a likely boost for risk assets like cryptocurrencies. However, a hawkish Fed could further depress XRP.

Despite the current bearish tilt, XRP is still largely bullish amid notable tailwinds. This includes Ripple’s march to a resolution of its legal hurdle from the SEC lawsuit.

Additionally, Ripple’s RLUSD stablecoin is seeing growing integration and partnerships, as is XRP Ledger’s traction in payments and tokenization of real-world assets.

Potential XRP ETF and Ripple banking license approvals, expected in late 2025, provides further optimism.

On the charts, XRP faces immediate support at $2.80, with a deeper safety net in the $2.58 to $2.32 zone. However, if bulls reclaim the $3.00 to $3.40 area as support, a breakout could bring a new ATH into play, with targets of up to $10.

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