Why Are Dormant Bitcoin Whales Rotating Into Ethereum Ahead Of Powell's Jackson Hole Speech?

Dormant Bitcoin BTC/USD whales are springing to life, shifting capital into Ethereum ETH/USD as traders bet on stronger performance from ETH.

What Happened: On-chain data from Lookonchain revealed that a Bitcoin whale, who received 100,784 BTC ($642 million) nearly seven years ago has resurfaced, offloading BTC to buy 62,914 ETH ($267 million) spot and opening a 135,265 ETH ($577 million) long position.

Another dormant whale showed a similar pattern, depositing BTC into Hyperliquid.

This wallet, which originally received 85,947 BTC ($547 million), still controls six wallets holding 83,585 BTC ($9.42 billion).

The moves come as Bitcoin and Ethereum prices dip, with traders noting ETH's relative strength against BTC as a signal of brewing upside momentum.

Analyst Miles Deutscher argued Ethereum is the stronger coin now: more than $20 billion in treasury demand still waiting to deploy, cycle timing suggesting ETH's rally is less exhausted than BTC's, and ETH's resilience on BTC dips compared to prior months.

He predicts Ethereum will rebound harder than both Bitcoin and most alts, offering a better risk-adjusted return.

Also Read: Bitcoin, Ethereum On The Edge Ahead Of Jerome Powell’s Jackson Hole Speech: Here’s What To Expect

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What's Next: Crypto trader Scient predicts if Ethereum flips $4,380 then there could be a run through weak highs towards $4,800.

CryptoGodJohn sees $4,447 and $5,376 as upcoming targets over the next 6–8 weeks.

Crypto Caesar noted Ethereum's cycle is entering its final phase, with a strong few months still ahead.

Ted Pillows noted Ethereum is testing $4,360 resistance; a breakout could hit $4,760, though a lower retest is also possible. He warns Powell's Jackson Hole speech could spark heavy volatility, as seen in 2023 and 2024, and advises traders to manage leverage carefully.