Bitcoin Defies Gravity: Soars Past $116k Even After Galaxy Digital’s $3.5 Billion Sell-Off

Bitcoin just pulled off its best Houdini act yet—shrugging off a $3.5 billion Galaxy Digital liquidation like it was pocket change. The king of crypto isn’t just surviving institutional dumps; it’s thriving.

The Unstoppable Ascent

While Wall Street hedge funds panic-sell, retail traders keep stacking sats. BTC’s resilience at $116k proves the old adage: ‘Money flows where it’s treated best’—even if that means bypassing traditional finance’s crumbling infrastructure.

Whales vs. The People

Galaxy’s fire sale should’ve triggered a crash. Instead, the market yawned and bid higher. Either crypto’s liquidity pool got deeper, or bankers still haven’t figured out how to short Bitcoin properly. (Spoiler: It’s both.)

Closing thought: Maybe the real ‘digital transformation’ was watching Goldman Sachs alumni lose millions betting against internet money while DeFi degens laugh their way to the bank—literally.

Bitcoin bounces back

Bitcoin is trading around $116,000 at the time of writing. While still down 1.6% on the day, its current price marks a recovery from earlier lows NEAR $114,700.

The rebound in price comes alongside a fresh boost from bitcoin ETFs, which broke a three-day outflow streak with about $227 million in net inflows during the latest session.

Meanwhile, Galaxy Digital still holds about 18,500 BTC, and about 12,000 BTC, roughly $1.38 billion, from the 80,000 BTC whale remains untouched, suggesting more sales could follow.

But according to on-chain tracker EmberCN, the sales so far have been a mix of secondary market and over-the-counter transactions. This means that with liquidity holding up and most of the sell pressure already absorbed, the final wave is expected to have minimal impact on prices.