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

Key Takeaways

• A whale sold 7,700 BTC (about $576.6 million) between August 19 and 22.
• Bitcoin currently trades near $77,000, up more than 20% for the week.
• The sale follows a 43,000 BTC whale accumulation wave that ended last week.

Whale Offloads $577 Million in Three Days

An unidentified wallet sold 2,700 BTC worth roughly $211.8 million at current prices in a single transaction hours ago, pushing the individual’s three-day haul to 7,700 BTC, worth about $576.6 million. The disposal comes as bitcoin trades within striking distance of $80,000, a level the asset nearly touched overnight before slipping back to around $77,000.

Large holders often use sharp rallies to realize profits, though onchain data alone cannot confirm whether that is what is happening here. It can only show that coins moved and, in many cases, where they landed.

That said, the whale’s selling has done little to slow bitcoin’s advance so far as the asset jumped double digits over the last couple of days to complete its strongest weekly rally since 2024. Prices climbed as high as $79,500 during the week before easing back toward current levels.

The rally traces back to a U.S. Treasury announcement that it would at least double its long-dated bond buyback operations, from $2 billion to $4 billion per operation, effective September 9. The move compressed long-end Treasury yields and pushed investors toward risk assets, including bitcoin, as safer fixed-income returns became less attractive by comparison.