Bitcoin whale sells $576M near $80K
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- An unidentified whale sold 7,700 Bitcoin worth about $576.6 million between 19 and 22 August.
- Bitcoin traded near $77,000 after reaching almost $80,000 during the week.
- The sales came after large holders accumulated about 43,000 Bitcoin over 60 days.
An unidentified wallet sold 7,700 Bitcoin (CRYPTO:BTC) worth about $576.6 million between 19 and 22 August.
The whale sold 2,700 Bitcoin worth about $211.8 million in its latest transaction.
The sales came as Bitcoin traded near $77,000 after reaching about $79,500 during the week.
On-chain data shows the coins moved, but it cannot confirm whether the whale was taking profits.
The selling has not stopped Bitcoin’s recent rise, which pushed its weekly gain above 20%.
The whale sales reversed a recent trend after large holders added about 43,000 Bitcoin worth $2.75 billion.
Traders are now watching whether more whales sell and whether ETF demand can absorb the additional supply.
At the time of reporting, Bitcoin price was $77,518.77.
