26.07.2025 04:38

Bitcoin, the leading cryptocurrency, recently experienced a significant price drop, plummeting from its all-time high of $123,000. This decline, which saw BTC briefly touch $115,000, has been attributed to a massive sell-off by Galaxy Digital, a major player in the cryptocurrency market.

According to data from Lookonchain, a cryptocurrency analytics platform, Galaxy Digital liquidated approximately 30,000 BTC, valued at roughly $3.5 billion, in a single day. The majority of these Bitcoin were transferred directly to cryptocurrency exchanges, strongly suggesting immediate sale and subsequent market impact.

This significant sell-off contributed to Bitcoin's sharpest decline in recent days, a precipitous fall from $118,000 to $115,000 in a matter of hours. The timing is particularly noteworthy, following Galaxy Digital's recent acquisition of 80,000 BTC from a long-dormant "Satoshi-era" wallet – a transaction that had already generated considerable market speculation. While fueling concerns of further selling pressure, it's important to note that Galaxy Digital still retains a substantial Bitcoin holding of 18,504 BTC, valued at approximately $2.14 billion.

Adding another layer of complexity to the situation, Mike Novogratz, CEO of Galaxy Digital, recently offered bullish predictions on CNBC, forecasting Bitcoin to reach $150,000 and Ethereum to hit $10,000 by year's end. These projections, however, contrast sharply with the company’s recent actions that caused market instability. It's crucial to remember that this information is not financial advice. For more in-depth analysis and up-to-date market information, consult various internet sources.