MARA’s 2,000 BTC Transfers Raise Bitcoin Sale Concerns

MARA Holdings transferred 1,000 BTC, worth about $80.19 million, to a BitGo address, then sent another 1,000 BTC—worth about $80.7 million—to the custodian on October 28. The second transfer came within two days of the first. The initial batch was split into 16 smaller transfers to new addresses, a pattern that may indicate distribution to buyers, but neither transfer confirms a sale; the latest batch remains at BitGo. Lookonchain tracked about 3,996 BTC, worth roughly $326 million, moving from MARA-linked wallets this month—around 11% of the 35,577 BTC the miner reported holding at the end of June. MARA sold 23,093 BTC in the first half of 2026, mainly to repurchase convertible notes, and has said it may periodically sell bitcoin. Its second-quarter results included a $611 million loss and a 27% revenue decline, adding to market scrutiny of its liquidity and potential BTC supply. Bitcoin was trading near $81,577, up about 2% in 24 hours, with little immediate reaction to the latest transfers. Earlier market conditions had BTC below $80,000 and down about 2% over seven days. Traders are watching whether the second BitGo batch is split and moved, and whether MARA’s third-quarter results clarify October sales. The cited technical levels include resistance near $81,705 and $84,898, support at $79,221, and an earlier $80,000–$81,500 support zone; one analyst warned that failure to reclaim $82,000 could risk a further decline of up to 10%. Any actual MARA sale could add supply and pressure Bitcoin, but transfers alone do not establish that selling has occurred.