Whale Unloads $576M in Bitcoin as BTC Nears New High

A mysterious whale has been unloading Bitcoin (BTC) in large quantities over the past three days, selling 7,700 BTC worth approximately $576.6 million.

The recent sales come as Bitcoin trades near $77,000, up more than 20% for the week, and within reach of its previous high of $80,000.

According to onchain data, this whale sold another 2,700 BTC worth about $211.8 million earlier today, pushing its three-day total to 7,700 BTC.

This large-scale 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.

The rally is attributed 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.