29.07.2025 03:04

Galaxy Digital, a prominent cryptocurrency firm, recently transferred a substantial amount of Bitcoin to cryptocurrency exchanges, triggering speculation of a potential market downturn. Within a mere twelve hours, 3,782 Bitcoin, valued at approximately $447 million, changed hands, according to data from Arkham Intelligence. This significant movement has understandably raised concerns among market observers.

This latest transfer follows a considerably larger event just last week: the sale of over 80,000 Bitcoin by Galaxy Digital. This monumental liquidation, the largest publicly known, was reportedly on behalf of a long-dormant investor who reactivated their wallet after a fourteen-year hiatus – a so-called "Satoshi-era" holder. The initial massive sell-off briefly sent Bitcoin prices plummeting to $115,000 before a partial recovery above $119,000.

The current market reflects a degree of instability following these events. At the time of writing, Bitcoin is trading at $117,834, showing a slight 1.5% decrease over the past 24 hours, as reported by CoinGecko. The recent transfers by Galaxy Digital, therefore, contribute to a volatile market environment, prompting continued speculation on the company's future actions and their impact on Bitcoin's price. The situation underscores the significant influence wielded by large players in the cryptocurrency market and the inherent volatility of the digital asset space.