Whale transactions in BTC and ETH surge as exchange reserves fall and CME ETH futures hit record highs amid rising institutional demand.
Large crypto holders appear to be increasing their exposure to Bitcoin and Ethereum. On-chain and derivatives data show recent spikes in large transactions, institutional interest, and asset outflows from exchanges.
Consequently, this activity is gaining attention as both assets rebound from recent lows, despite short-term market swings and policy shifts.
Whale Transactions on the Bitcoin Network Surge
Bitcoin network activity shows a clear increase in high-value transactions. According to crypto analyst Ali Martinez, the number of Bitcoin transactions exceeding $1 million has reached 6,311, marking the highest level in the past two months. This activity peaked around October 26–28, based on whale transaction data.
Whale activity on the Bitcoin $BTC network is climbing, hitting a two-month high of 6,311 transactions exceeding $1 million each. pic.twitter.com/ydym8VjJ5H
— Ali (@ali_charts) October 29, 2025
At the same time, Bitcoin rebounded from around $106,000 to a local high of $116,000 before yesterday’s correction. The asset is currently priced at $110,700, showing a -2% change in the past 24 hours and a minor gain over the past week. This recovery follows a recent drop to under $108,000 despite a US Federal Reserve rate cut announced just one day prior.
Moreover, data from CryptoQuant confirms that Bitcoin exchange netflows have remained negative through October. This means more BTC is being withdrawn from exchanges than deposited.
Source: CryptoQuant
Such withdrawal trends typically point to holders moving funds to cold storage, often seen during accumulation periods. Combined with the spike in large transactions, this supports the view that some large investors may be repositioning for the months ahead.
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Whales Boost ETH as Futures and Wallets Grow
Ethereum is also showing growing institutional activity. According to CryptoQuant data shared by Crypto Rover, CME Ethereum futures open interest has reached a record high of over 2.25 million contracts. The growth spans multiple expiry periods, mostly within 1 to 6 months.
BIG PLAYERS ARE COMING FOR $ETH! pic.twitter.com/RZ9RJtcEi5
— Crypto Rover (@cryptorover) October 29, 2025
In addition, this increase in open interest has happened alongside a steady price recovery. ETH has moved from below $1,400 to a peak of $4,950 in 2025 before pulling back. As of press time, the asset is trading at around $3,900, with a 24-hour drop of 3% and a 7-day rise of 2%.
Additional data from Alphractal shows a rise in the number of Ethereum addresses holding over 1,000 ETH, as we reported. These large wallets have grown more active in recent weeks. Meanwhile, CryptoQuant reports that ETH reserves across all exchanges have declined by about 1 million coins since late September.
CryptoPotato reported that institutional accumulation of Ethereum has expanded at a faster pace than Bitcoin during the past year. This trend suggests institutional portfolios are increasing their exposure to Ethereum faster than Bitcoin.
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