Recent on-chain movements hint at both profit-taking and bold directional bets.

A notable Bitcoin wallet known as bc1q0l just moved 1,000 BTC—worth over $117 million—back to Binance. The coins were originally withdrawn four months ago at around $84,861 each. With current prices, the transaction locks in an estimated $68.8 million profit.

Ethereum’s network is also buzzing. A wallet tied to the Ethereum Foundation offloaded 1,207 ETH for 3.61 million USDC earlier today. That sale came as SharpLink Gaming, which had previously received 10,000 ETH directly from the foundation, added another 21,487 ETH from OTC channels and Coinbase Prime—totaling over $90 million in ETH accumulation.

Yet not all bets are bullish. Several large wallets opened high-leverage short positions on ETH within hours:

Wallet 0x8c58 shorted 18,394 ETH (~$54M) using 15x leverage after depositing $3.74M in USDC.
0x2258 entered a 25x leveraged short of 16,219 ETH (~$48M).
0xec4b joined in with a 15x leveraged short on 13,845 ETH (~$41M).

Amidst the mixed sentiment, BlackRock’s Ethereum ETF (ETHA) posted its largest single-day inflow to date: 106,827 ETH—about $320 million. This milestone brings the asset manager’s total ETH holdings to over 2 million tokens, now valued around $6 billion.

With whales cashing out, shorts rising, and institutions doubling down, Ethereum and Bitcoin may be entering one of their most volatile stretches yet.

The post Crypto Whales and Institutions Stir Markets as Ethereum Shorts Build Up appeared first on Coindoo.

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Filed under: Bitcoin - @ July 12, 2025 11:01 pm