Bitcoin Whale Unloads $576M Worth of BTC Amid Price Volatility

A large Bitcoin holder, known as a whale, sold 7,700 BTC worth approximately $576.6 million between August 19 and 22. The transactions took place when Bitcoin traded near $77,000, having reached almost $80,000 earlier in the week.

The whale's sales came after a period of accumulation by large holders, who added about 43,000 BTC worth $2.75 billion over 60 days. On-chain data indicates that the coins were moved, but it cannot confirm whether the whale was taking profits or not.

The selling activity has not affected Bitcoin's recent price rise, which pushed its weekly gain above 20%. Traders are now watching to see if more whales sell and whether ETF demand can absorb the additional supply.