Sonar
July 11, 2026

Over 200 whale transactions exceeded $1M this week, led by repeated WBTC buys totaling more than $10B in volume directed to a single USDC/USDT holder across July 4-11. Strategy sold 3,588 BTC for $216M on July 5-6 to fund dividends while holding 843,775 BTC. Bitcoin traded below $62,000 following the sales and geopolitical comments, with XRP securing a landmark college athletics sponsorship.

Market Sentiment: Neutral

Bitcoin price fell below $62,000 after Strategy sold 3,588 BTC for $216M. Social volume spiked around the sale and Trump comments on Iran. XRP gained positive attention from the Kansas Athletics jersey deal while BONK faced governance concerns.

Top News This Week

  • No major news this period.

Biggest Whale Movements

  • WBTC — accumulation, $338.6M. Multiple $300M+ WBTC purchases executed on Ethereum between July 4 and July 11, all routed to the same USDC/USDT whale wallet. The consistent buying pattern signals large-scale accumulation ahead of potential price stabilization.
  • WBTC — accumulation, $338.5M. Second large WBTC buy on July 5 totaling $338.5M to the identical whale address. Activity continued across multiple days with minimal distribution observed.
  • WBTC — accumulation, $338.2M. July 4 WBTC purchase of $338.2M by the same entity, part of a sustained accumulation streak exceeding 50 similar transactions.
  • BONK — distribution, $18.3M. Two large BONK sells on July 6 totaling $36.5M from whale wallets. Followed reports of a malicious governance proposal targeting BonkDAO treasury.
  • LINK — distribution, $14.5M. Top LINK holder executed $14.5M sell on July 8 with additional smaller LINK movements. Coincided with minor FET sells from related addresses.
  • SOL — distribution, $10.0M. Multiple SOL sells from reserve and market maker wallets on July 6 totaling over $30M across Kamino pools.

Price Movers

  • No significant price movements.

What to Watch Next Week

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