A Bitcoin whale identified as 37BnFf sold 800 BTC for roughly $50.24 million after holding the position for seven months, locking in an estimated $35.3 million loss as Bitcoin struggled to regain stronger momentum above the low-$60,000 range.
The 800 BTC sale followed a high-cost accumulation from November 2025, when the same wallet withdrew 800 BTC from Binance and OKX during a much stronger market. That earlier purchase was made around an average entry price of $106,866 per BTC, leaving the whale deeply underwater when the coins were moved back toward the market near $63,000.
BTC traded near $63,667 at the time of writing, after an intraday low near $62,308. The sale adds another visible realized-loss event to a market still trying to stabilize after falling roughly 50% from its $126,000 peak.
Whale Sale Lands Near Key Support
The timing gives the trade more weight than the size alone. An 800 BTC sale is meaningful, but the larger signal is that a wallet that bought near the top waited seven months before capitulating into a much weaker price zone.
Bitcoin traders are already focused on the $59,000 to $60,000 area. That range has become a major line for spot buyers, leveraged positions and short-term market confidence. A clean break below it could trigger another liquidation-driven move, while a hold would keep the latest selloff inside a wider bottoming attempt.
Recent market structure has remained fragile. Bitcoin’s bottom remains unconfirmed as realized losses stay below capitulation levels, leaving traders split between a final liquidity sweep and a recovery attempt from the current range.
Long-Term Holders Still Absorb Supply
The whale exit does not sit alone. CoinDesk market updates showed accumulator wallets taking in about 125,000 BTC during the first half of June, suggesting longer-term holders have been absorbing supply while weaker hands and leveraged traders reduce exposure.
That split keeps Bitcoin’s onchain picture mixed. One high-profile whale has realized a large loss, but broader holder behavior still shows accumulation from wallets with a history of buying and holding through volatility. ETF demand has also been uneven, with earlier pressure from record Bitcoin ETF outflows partially offset by selective institutional inflows into individual funds.
Exchange-flow data has added another layer. CryptoQuant recently showed Bitcoin exchange inflows cooling as traders watched a possible $59,000 sweep, meaning immediate sell-side deposits from some holder cohorts were easing even as price stayed heavy.
Bitcoin Market Stays Split Near $60K
The whale’s $35.3 million realized loss gives bears a clear example of fading conviction among large holders. It also shows how painful late-cycle entries can become when the market drops from record highs and fails to recover quickly.
At the same time, Bitcoin has not produced a one-sided capitulation signal. Long-term-holder accumulation, weaker exchange inflows and selective institutional buying still sit against whale selling, ETF pressure and heavy resistance above the current range.
The confirmed market picture is an 800 BTC whale exit near $63,000, a realized loss of about $35.3 million, BTC still trading above $60,000, and a broader onchain backdrop split between forced selling and long-term accumulation.
