Key Notes
- A whale sold 2,000 BTC for $215M in ETH.
- The wallet’s total ETH stash now stands at 886,371 ETH worth $4.07B.
- Experts forecast Ethereum could flip Bitcoin in the long run.
A mysterious Bitcoin OG, once known for deep BTC BTC $108 947 24h volatility: 0.5% Market cap: $2.17 T Vol. 24h: $36.61 B pockets, has continued an aggressive pivot into Ethereum ETH $4 407 24h volatility: 1.6% Market cap: $531.94 B Vol. 24h: $26.92 B . On Sept. 1, blockchain data confirmed that the whale sold 2,000 BTC, worth approximately $215 million, and instantly converted it into 48,942 ETH at spot prices.
The transaction pushes the Bitcoin OG’s total Ethereum holdings to 886,371 ETH, valued at over $4.07 billion. Interestingly, close to $1 billion of these purchases were made just over the weekend, implying a significantly bullish stance on the digital asset.
This Bitcoin OG has sold another 2,000 $BTC ($215M) and bought 48,942 $ETH ($215M) spot over the past 4 hours.
In total, he has bought 886,371 $ETH ($4.07B).
— Lookonchain (@lookonchain) September 1, 2025
Ether’s Upside Potential
Market experts say that this accumulation spree may be an attempt to front-run institutional inflows, especially after Consensys founder Joseph Lubin predicted Ethereum’s market base could grow 100 times over.
I am 100% aligned with almost all of what Tom @fundstrat says here.
Yes, Wall Street will stake because they currently pay for their infrastructure and Ethereum will replace much of the many siloed stacks they operate on (e.g. JPMorgam probably operates on several siloed stacks…
— Joseph Lubin (@ethereumJoseph) August 30, 2025
Lubin noted that Wall Street will inevitably stake Ethereum, as financial giants are seeking cheaper, scalable infrastructure compared to deserted legacy systems.
According to him, this would trigger unprecedented demand for ETH, potentially leading to it surpassing Bitcoin as the dominant cryptocurrency.
Institutional Interest Adds Momentum
The Bitcoin OG transaction comes alongside fresh buying activity from Longling Capital, a well-known trading firm. After selling 5,000 ETH last week, they turned buyers again, picking up 7,000 ETH ($30.6 million).
The firm has built a reputation for accurately timing market entries and exits, and its latest purchase is being interpreted as a bullish signal for Ethereum’s next leg up.
Ethereum recently marked a new all-time high of $4,953 on Aug. 25 but quickly faced a price correction. At the time of writing, ETH is trading at around $4,388, marking a 6% drop over the past week.
Analysts, however, believe these consolidations are healthy before another push toward the psychological $5,000 resistance level.
Popular crypto trader Wagmi wrote on X that Ethereum looks “ready for a big move,” stressing that as long as it holds above the $4,360 support, a rally beyond $5,000 remains firmly on the table.
$ETH looks like it’s getting ready for a big move 🚀
As long as it holds above the $4,360 support, a push toward $5K+ is on the table.
The chart is showing strong accumulation before the next leg up.
Don’t fade on Ethereum 👀
— RJT. WAGMI (@RJTTheOG) August 31, 2025
ETH Price to $5,200?
Ethereum’s daily chart shows the price consolidating within the Bollinger Bands, with the mid-band (20-day SMA) acting as immediate support around $4,360. The bands are tightening, indicating reduced volatility before a potential breakout.
If ETH holds above $4,360, buyers could push toward resistance at $4,750 and retest the $4,953 all-time high, with a breakout opening doors to $5,200+, making ETH the next crypto to explode .
ETH daily chart with RSI Indicator as of September 1 | Source: TradingView
Meanwhile, the Relative Strength Index (RSI) is hovering near 52, suggesting a neutral stance but leaning slightly bearish after cooling off from overbought levels in August.
A close below $4,360 would expose support at $4,100, and a deeper correction could drag ETH back toward $3,900. For now, consolidation and strong whale accumulation suggest Ethereum is preparing for its next decisive move .
