Mystery whale sells $576M in Bitcoin as BTC nears $80,000

A mystery whale sold 2,700 Bitcoin worth $211.8 million today, pushing its three-day total to 7,700 BTC ($576.6 million) as the token nears $80,000.

Lookonchain flagged the transactions on X, identifying the wallet address as "bc1qsy."

Since July 19, the same wallet has deposited more than 12,513.5 BTC, worth $850 million, into Binance, the on-chain analytics firm said. Market maker Wintermute separately moved 3,834 BTC, or $256.8 million, to the exchange over the past week, including 590.9 BTC today, according to Arkham data.

Bitcoin traded at $77,218 as of 14:30 UTC, down about 1 percent over 24 hours after being rejected at the $80,000 mark. The token has still added roughly 23 percent over the past week, its strongest weekly rally in years, and flipped Meta to rank as the 13th-largest global asset at a $1.5 trillion market cap.

The selling comes as the Fear and Greed Index surpassed 70 for the first time since October 2025, a level that historically has preceded pullbacks. The 4-hour relative strength index also hit an all-time high on Friday after Bitcoin surged to $79,700, according to analyst Crypto Rover.

A separate whale whose address ends in "bc1qqt" sold 550 BTC for nearly $40 million, booking a profit of $4.5 million, Lookonchain data shows.

Veteran trader Peter Brandt has turned bullish on the asset, while Tony Edward, founder of the Thinking Crypto Podcast, expects a pullback toward the $69,000-$70,000 region before Bitcoin resumes its advance toward $80,000. The token's recent surge above $78,000 has drawn attention from global traders, with many turning optimistic on its long-term trajectory.

The large-scale liquidation of more than $576 million in Bitcoin could create selling pressure that caps the rally near the $80,000 resistance level. However, the strong bullish momentum from the weekly advance may absorb the supply. Traders will watch whether further whale distributions follow and whether Bitcoin can break through the psychological barrier or faces a pullback.

This article is for informational purposes only and does not constitute investment advice.