In a striking display of market timing, a mysterious cryptocurrency whale made significant moves in the Ethereum (ETH) and Bitcoin (BTC) markets, as reported by a leading on-chain analytics platform. On April 27, 2024, this whale purchased 30,000 ETH at an average price of $1,830 per token, totaling $54.9 million, and 600 BTC at an astonishing $94,900 per coin, amounting to $56.94 million, through over-the-counter (OTC) trades. Fast forward to May 22, 2025, at approximately 10:00 AM UTC, the same whale sold the entire 30,000 ETH stash at $2,621 per token via OTC, raking in $78.63 million and securing a profit of $23.73 million in just over a year. Meanwhile, the whale continues to hold the 600 BTC, which, as of May 22, 2025, at 1:00 PM UTC, is valued at $66.5 million, reflecting an unrealized gain of $9.6 million. This activity, highlighted by Lookonchain on social media, underscores the massive profits possible in crypto markets through strategic OTC transactions and raises questions about the whale’s next moves with Bitcoin. For traders tracking large-scale market participants, such whale activity often signals potential price shifts, making this a critical event to analyze for Ethereum and Bitcoin trading strategies. The sheer scale of these trades, especially in the OTC space, suggests institutional involvement or high-net-worth individuals operating outside public exchanges, potentially minimizing market impact at the time of execution. As of the latest data on May 22, 2025, at 2:00 PM UTC, ETH is trading at approximately $2,620 on major exchanges like Binance for the ETH/USDT pair, while BTC hovers around $110,833 on the BTC/USDT pair, reflecting significant appreciation since the whale’s initial purchase.

The trading implications of this whale’s activity are multifaceted and offer actionable insights for crypto investors. The sale of 30,000 ETH at $2,621 on May 22, 2025, at 10:00 AM UTC, could indicate a bearish outlook on Ethereum’s short-term price action, as the whale chose to lock in profits amid a rally. This move may pressure ETH prices if other large holders follow suit, especially since OTC sales often precede broader market distribution. Conversely, the decision to hold 600 BTC, now valued at $66.5 million as of 1:00 PM UTC on May 22, 2025, suggests confidence in Bitcoin’s continued upside. Traders should monitor BTC/USDT and ETH/USDT pairs closely on platforms like Binance and Coinbase for increased volatility. On-chain metrics from platforms like Glassnode reveal a spike in Ethereum wallet outflows around 9:00 AM UTC on May 22, 2025, with over 35,000 ETH moved off exchanges within a two-hour window, aligning with the reported OTC sale. This could signal profit-taking by other whales or retail traders reacting to the news. For Bitcoin, the lack of selling pressure from this whale may bolster bullish sentiment, especially as BTC’s 24-hour trading volume on Binance reached $12.3 billion by 2:00 PM UTC on May 22, 2025, up 15% from the previous day. Traders might consider long positions on BTC with a stop-loss below $105,000, while adopting a cautious stance on ETH, targeting support levels near $2,500.

From a technical perspective, Ethereum’s price action on the ETH/USDT pair shows a rejection at the $2,650 resistance level as of May 22, 2025, at 2:00 PM UTC, with the Relative Strength Index (RSI) on the 4-hour chart sitting at 62, indicating potential overbought conditions. Bitcoin, on the other hand, remains in a strong uptrend, breaking past the $110,000 psychological barrier at 12:00 PM UTC on May 22, 2025, with an RSI of 68 on the daily chart, still below overbought territory. Trading volume for ETH/USDT on Binance spiked to $8.7 billion in the 24 hours leading up to 2:00 PM UTC on May 22, 2025, a 10% increase compared to the prior day, likely driven by reactions to the whale’s sale. For BTC/USDT, volume data indicates sustained buying interest, with $12.3 billion traded in the same period. Market correlations also reveal a divergence: while BTC and ETH typically move in tandem with a 0.85 correlation coefficient over the past 30 days, ETH’s price lagged behind BTC’s rally by 3% in the 48 hours following May 20, 2025, at 10:00 AM UTC, per data from CoinGecko. This whale’s activity could exacerbate this divergence if further ETH selling occurs. Additionally, cross-market analysis shows minimal direct impact on crypto-related stocks like Coinbase (COIN) or Bitcoin ETFs as of May 22, 2025, with COIN trading flat at $220.50 at 1:00 PM UTC on Nasdaq. However, institutional interest in BTC remains high, with on-chain data indicating a net inflow of 5,200 BTC into custodial wallets between May 20 and May 22, 2025, per CryptoQuant reports. This suggests that while the whale holds, institutional money continues to flow into Bitcoin, potentially stabilizing prices above $110,000 in the near term. Traders should remain vigilant for updates on this whale’s BTC holdings, as a future sale could trigger significant volatility across multiple trading pairs.