Bitcoin News Today: Major Bitcoin Whale Buys $792M Amid $1.05B Liquidation Fallout

A major anonymous Bitcoin whale has acquired $792 million in Bitcoin amid a significant market correction triggered by a $1.05 billion liquidation event following a surprise 3.3% annual increase in the U.S. July Producer Price Index [1]. The selloff pushed Bitcoin from its new all-time high of $124,457 to around $119,000, marking one of the largest liquidation events in recent months. Bybit bore the brunt of the losses, with $447 million in leveraged positions wiped out—nearly 42% of total market losses—while Ethereum saw $229 million in long positions and $80.22 million in short positions erased [1].

Amid the turmoil, BlackRock added to the bullish momentum by purchasing $523 million in Bitcoin and $519 million in Ethereum [1]. US spot Bitcoin ETFs recorded a net inflow of $230 million on August 14, with BlackRock’s IBIT alone attracting $524 million [1]. Ethereum ETFs also saw strong inflows, totaling $640 million driven largely by ETHA’s $520 million contribution.

The whale’s $792 million purchase acted as a stabilizing force, countering the widespread panic caused by the selloff. The move coincided with BlackRock’s accumulation efforts and reinforced the belief that institutional demand remains strong despite short-term volatility. Additionally, the merger between David Bailey’s Bitcoin firm Nakamoto and healthcare company KindlyMD is expected to further intensify the corporate Bitcoin accumulation race. The newly formed entity plans to allocate $540 million in financing toward Bitcoin treasury holdings, potentially positioning itself among the top 20 Bitcoin treasury firms [1].

Treasury Secretary Scott Bessent initially dampened market sentiment by stating the U.S. would not purchase Bitcoin for its Strategic Reserve. However, he later clarified that the government is exploring “budget-neutral pathways” to expand its holdings beyond confiscated assets [1]. This shift in tone provided some reassurance to market participants and may influence broader institutional adoption.

The market psychology swung sharply from greed to fear during the liquidation, as reflected in the crypto Fear and Greed Index, which dropped to extreme fear levels before recovering to a neutral reading of 59 [1]. The selloff also claimed high-profile traders, including AguilaTrades, who lost 18,323 ETH worth $83.56 million in a single cascade, leaving only $330,000 in their account [1].

Despite the volatility, Bitcoin remains within a $116,000 to $123,000 trading range, with technical indicators suggesting consolidation rather than a decisive breakout [1]. An analysis by veteran trader BitcoinHyper indicates that buying pressure between $113,000 and $124,000 appears to be waning, and the recent correction may offer a base for future accumulation [1]. The anonymous whale’s acquisition could provide a floor for further corrections, but a sustained upward move will likely require additional institutional support and a breakdown of current resistance levels.

The coordinated accumulation by firms like KindlyMD, BlackRock, and Fidelity suggests that the institutional Bitcoin bull run remains intact, even in the face of sharp corrections. As long as these major players continue to build treasuries and ETF inflows remain strong, the underlying fundamental case for Bitcoin remains robust.

Source:

[1] Anonymous Whale Acquires $792M in Bitcoin – Bull Run Still On?

https://cryptonews.com/news/anonymous-whale-acquires-792m-in-bitcoin-bull-run-still-on/