Bitcoin Whale Shifts $450 Million in ETH to Spot Market

A significant move from a major Bitcoin whale has reshaped the Ethereum (ETH) market, impacting both its price and liquidity. On August 25th, 2025, the whale closed out nearly $450 million worth of long positions (ETH longs) in an effort to begin accumulating ETH directly in the spot market. This move is being tracked by on-chain analytics platforms, indicating a substantial shift in market dynamics.