25.07.2025 19:40
A significant Bitcoin price drop coincided with a substantial deposit of Bitcoin by Galaxy Digital, a financial services firm operating a proprietary trading desk. Lookonchain, an analytics firm, revealed that Galaxy Digital transferred 10,000 BTC, valued at approximately $1.18 billion, to cryptocurrency exchanges. This large-scale transfer, occurring hours before the price decline, is widely believed to be a contributing factor to the market downturn.
The sharp price decrease saw Bitcoin plummet to its lowest point since July 10th, reaching an intraday low of $115,125 at 4:26 a.m. UTC. While a slight recovery is underway, Bitcoin currently trades around $115,564, indicating ongoing market volatility. Intriguingly, this sizable BTC deposit originated from a Satoshi-era whale, who recently moved their remaining holdings, totaling $4.77 billion, to Galaxy Digital, as reported by internet sources.
Adding fuel to the fire, further analysis from Lookonchain uncovered another significant transfer from Galaxy Digital. Approximately 20 minutes after the initial deposit, an additional 2,850 BTC, worth roughly $330 million, was sent to exchanges. This second transfer intensified selling pressure, exacerbating the already negative market sentiment.
The dramatic Bitcoin price swing resulted in substantial losses for some major players. AguilaTrades, a prominent whale closely followed by the crypto community, suffered a partial liquidation of their extensive 20x long position. This liquidation resulted in a $2.1 million loss for the whale, who now holds a Bitcoin position with a floating loss of $4 million, reducing their total portfolio value to $37 million.
This volatility is not an isolated incident. Data from CoinGlass highlights widespread liquidations across the market, with a staggering $706.66 million in liquidations within the last 24 hours. Long positions accounted for the vast majority of these losses, totaling $551.67 million. The significant market events of the day clearly illustrate the considerable risks associated with cryptocurrency investments.
