Galaxy Digital’s $1.39 Billion BTC Dump Sends Bitcoin Crashing to $115K—Here’s Why It Matters
Bitcoin just got sucker-punched. Galaxy Digital’s massive exchange dump triggered a 10% nosedive—right as institutional FOMO was peaking. Was this a strategic exit or panic selling? Let’s dissect the carnage.
Whale Alert: The $1.39 Billion Move That Shook Markets
When Galaxy offloaded its BTC hoard, it wasn’t subtle. The transfers hit major exchanges like a freight train, liquifying support levels. Traders scrambled as sell orders stacked up faster than a DeFi rug pull.
Post-Dump Fallout: Contagion or Opportunity?
With BTC now testing $115K, the real question is who’s next? Mining firms? ETF custodians? (Cue the ‘long-term holders’ suddenly checking their cold wallets.) Meanwhile, Wall Street analysts are already spinning this as a ‘healthy correction’—because nothing says healthy like nine-figure liquidations.
The Cynic’s Take: ‘Institutional Adoption’ Meets Old-School Profit-Taking
Turns out crypto’s shiny new hedge fund pals trade exactly like degenerate apes—just with better PR teams. Galaxy’s move proves even ‘smart money’ plays hot potato when fees are on the line. Welcome to the jungle, folks.
Bitcoin (BTC)’s price dropped to $115k today early morning, marking a substantial fall from recent highs and eliciting increased curiosity from investors and investors.
The asset’s value is currently standing at $115,663, a decline that has provoked questions about the underlying catalysts causing the slump and its possible impact on the wider VIRTUAL currency market.
Bitcoin briefly crashed to $115,000 overnight… and Galaxy Digital might be the reason.
In just 9 hours, they moved 11,910 BTC (~$1.39B) to exchanges, per SpotOnChain
Analysts suspect this stash could be linked to the 80,202 BTC dump ($9.5B) from the legendary “ancient… pic.twitter.com/B9zJW4rBTL
All Eyes Are On Galaxy Digital
New data reported today by market analyst Satoshi Club pointed fingers at digital asset manager Galaxy Digital as (might be) the reason for the fall.
Nine hours before the price fall, Galaxy Digital was spotted, transferring 11,910 BTC worth $1.39 billion from cold wallets, moving them to exchanges, and eventually selling them.
This large-scale transfer has heightened questions over the recent price drop, which saw the asset fall 2.5% in the last 24 hours. This massive transaction happened at the same time when Bitcoin experienced a significant market correction, with analysts accusing Galaxy’s dumping activity as the cause.
This transfer happened amid increased volatility that has caused BTC’s value to experience 2.6% and 2.0% price drops over the past seven days and two weeks, respectively. The timing indicates Galaxy Digital’s intentional strategy to take advantage of recent price gains.
What’s Next For Bitcoin?
Galaxy Digital’s actions alone might not explain the entire intensity of the selloff. Market analysts believe that a general decrease in trading volume of the wider digital asset market and regulatory uncertainty are other catalysts.
Today, the broader market witnessed significant turbulence, with bitcoin and several altcoins experiencing downturns, pressured by significant fund transfers and rising caution ahead of the U.S. Federal Reserve meeting on July 30.
Traders are waiting for the forthcoming policy meeting. Although market analysts anticipate the Fed to hold rates steady, traders will concentrate on comments from officials to assess the future market direction.
Today, Market analyst Merlijn the trader described Bitcoin’s recent price fall as a “textbook correction,” majorly triggered by selling pressure coming from investors.
BITCOIN’S INVERSE HEAD & SHOULDERS SCREAMS UPTREND.
Bottom in March
Breakout in June
Current dip is textbook retest
Price is pulling back to retest the neckline. This is how major breakouts usually start.
If support holds, it’s the ultimate bear trap.
Dip is opportunity.… pic.twitter.com/4xWPHJrNiF
He termed the dip as an opportunity and revealed that the asset has formed a clear inverse head-and-shoulders pattern, a bullish chart showing a potential reversal from a downturn to an upturn. This means the asset is preparing to reverse its current downward movement to an uptrend. The analyst marked $140,000 as the next Bitcoin’s target.
