Bitcoin Whale Sells $576M in Three Days, but Market Holds Strong

A significant Bitcoin whale sold 7,700 BTC worth approximately $576.6 million over three days between August 19 and 22, according to on-chain data.

The final transaction involved 2,700 BTC valued at $211.8 million, causing some concern about the market's ability to absorb this increased supply.

However, Bitcoin has largely held its ground, trading around $77,000 after peaking at $79,463 on Friday and gaining over 20% for the week.

The US Treasury's plan to double long-dated bond buybacks provided macro support, as lower yields and dollar weakness historically boost demand for risk assets.