An unidentified bitcoin whale sold an additional 2,700 BTC, valued at approximately $211.8 million, bringing the wallet's total three-day sales to 7,700 BTC, or roughly $576.6 million. The transactions occurred between August 19 and August 22 as bitcoin traded within reach of the $80,000 level.
The large-scale disposal coincides with bitcoin trading near $77,000 following a weekly rally of more than 20%. During the week, prices climbed as high as $79,500 before easing back. The upward price movement followed a U.S. Treasury announcement that it will double its long-dated bond buyback operations from $2 billion to $4 billion per operation starting September 9, which compressed long-end Treasury yields and increased investor interest in risk assets.
This week's distribution marks a reversal from a preceding accumulation wave. According to Cryptoquant data, large holders had added roughly 43,000 BTC, worth about $2.75 billion, over a 60-day period ending in mid-August. That buying wave previously concluded months of steady selling by whales and coincided with bitcoin's earlier slide toward $60,000.
Market participants continue to monitor whether additional large holders will sell into the ongoing price strength and whether institutional demand, including exchange-traded funds, will absorb the incoming supply.
