Prominent Trader Makes $85M Bet on ETH and BTC

A well-known trader with a strong track record has recently deployed substantial capital across two major cryptocurrencies, according to PANews. This prominent figure, who previously generated $99.22 million in profits from Ethereum positions, is now making an aggressive move into both ETH and BTC with an investment totaling approximately $85.91 million. The move signals significant confidence in the current market environment and adds to the growing institutional and large-trader participation in crypto assets.

ETH Accumulation Strategy

Over the past nine hours, the prominent trader executed a major withdrawal from centralized exchanges, pulling out 20,392 ETH worth approximately $43.2 million at current valuations. The accumulation happened at an average entry price of $2,313.35 per ETH at the time of execution. This represents a substantial off-exchange movement, suggesting the trader’s intent to secure holdings outside of exchange custody—a common practice among major crypto participants seeking long-term exposure. With current ETH trading around $2,120, the trader’s average cost basis remains competitive for medium-term positioning.

BTC Position Building

In a parallel move over the last two hours, the prominent trader established a 500 cbBTC (Core Bitcoin) position, valued at approximately $35.2 million at current market rates. The entry was executed at an average price of $77,484.46 per BTC unit. This positioning in wrapped or structured Bitcoin products indicates diversified exposure strategy beyond spot holdings. Current BTC prices near $70,370 suggest favorable entry timing for the trader, especially given the volatility in this price range.

Market Implications

The simultaneous large accumulation by such a prominent market player across both Ethereum and Bitcoin typically signals bullish market sentiment from sophisticated traders. These substantial positions—particularly the exchange withdrawals indicating custody preference—often precede or accompany broader bullish movements in the crypto market. The combined $85M+ deployment underscores continued whale and institutional-level interest in securing crypto exposure during this period.