Bitcoin Whale Dumps 7,700 Coins as BTC Targets to Break $80K Wall

Bitcoin (BTC) price has recorded some losses today amid a whale selloff, after soaring past the $78,700 mark in the last 24 hours. However, despite the losses, the flagship crypto has added nearly 23% over the past week, suggesting the growing confidence of market participants towards the asset.

Meanwhile, the latest rally has allowed many traders to exit the market to book profits. Amid this, a latest report showed that a mysterious Bitcoin whale has offloaded more than $576 million in BTC over the last three days, which has fueled discussions among traders.

Bitcoin Whale Offloads 7,770 BTC Fueling Market Concerns

The on-chain transaction tracking platform, Lookonchain, has highlighted the latest transaction, showing that a “mysterious whale” has offloaded 2,700 BTC, valued at $211.8 million, today. Over the past three days, the whale, identified by the wallet address “bc1qsy,” has sold 7,770 Bitcoin, worth $576.6 million.

However, it’s worth noting that the latest rally in Bitcoin price might not be the only reason behind his move. For context, since July 19, when BTC price was mostly stagnant, the same whale has deposited more than 12,513.5 BTC, worth $850 million, into Binance.

Meanwhile, amid the Bitcoin whale news, Wintermute has also gained notable traction from market participants. Today, Wintermute has deposited 590.9 BTC to Binance, valued at around $45.66 million, while moving about 3,834 BTC, worth $256.8 million, over the past week.