Bitcoin fell as much as 6 % over the weekend, briefly touching an intraday low of $110,671 after an early-era holder transferred and sold about 24,000 coins—worth roughly $2.7 billion—via the Hyperunite trading venue. The move triggered an estimated $807 million in forced liquidations across crypto derivatives, including $642 million in long positions, before prices steadied near $112,000. On-chain data show the same wallet, which once controlled more than 100,000 BTC, has been exchanging holdings for ether. In the past five days it deposited 19,663 BTC on Hyperunit and acquired 455,672 ETH valued at $2.22 billion, staking 279,000 ETH. The rotation helped drive a record single-day trading volume above $3.2 billion on the platform. The whale shift mirrors broader market flows. US spot Bitcoin exchange-traded funds recorded $1.17 billion of net outflows in the week ended Aug. 22, the sixth consecutive daily bleed and the second-largest weekly withdrawal since the products launched. By contrast, Ethereum spot ETFs attracted a one-day net inflow of $341 million on Aug. 22, although they still posted about $238 million in net redemptions for the week. Ether has outperformed, hovering around $4,700 after briefly challenging the $5,000 mark, while CME ether futures open interest climbed to a record $71 billion. Bitcoin, down from a March high near $124,500, now commands about 57 % of total crypto market value, its lowest share in months, as institutional and whale accounts diversify toward Ethereum and other large-cap tokens.