Mystery Whale Sells $576M in Bitcoin as BTC Nears $80,000

A previously unidentified wallet moved 2,700 BTC—approximately $211.8 million at current prices—bringing its three‑day total sales to 7,700 BTC, or about $576.6 million. The transactions occurred while Bitcoin hovered near $77,000, close to the $80,000 threshold that it briefly touched earlier in the week.

Scale of the Recent Sell‑off

The whale’s activity over August 19‑22 amounts to 7,700 BTC, valued at roughly $576.6 million. A separate large holder sold 7,513 BTC (about $486.9 million) over a three‑week period ending August 9, indicating ongoing distribution by major holders.

Market Context

Bitcoin’s price has risen more than 20 % for the week, reaching as high as $79,500 before easing back to around $77,000. The rally follows a U.S. Treasury announcement to double its long‑dated bond buyback operations—from $2 billion to $4 billion per operation—effective September 9. The increased Treasury activity compressed long‑end yields, prompting investors to shift toward risk assets such as Bitcoin.

Recent Whale Accumulation Shift

Just days earlier, large holders added roughly 43,000 BTC (about $2.75 billion) over a 60‑day period ending mid‑August, ending a months‑long selling spree and supporting the current price surge. The current sell‑off marks a reversal from that accumulation phase.

Outlook

Traders will watch two key factors: whether additional large holders sell into the rally and whether institutional demand—through ETFs and other channels—can absorb the supply. The balance of these forces may shape Bitcoin’s next price move.