-
Galaxy Digital transferred nearly 30,000 BTC to exchanges on Friday.
-
The BTC originates from a dormant 2011-era whale wallet.
-
Around $3.5 billion in BTC has likely been sold.
-
Galaxy retains about 18,500 BTC worth $2.1 billion.
Another Major Whale Sell-Off Hits the Market
Galaxy Digital has moved roughly 30,000 BTC from the now-famous OG whale stash, with transactions hitting major exchanges like Binance and OKX. The total value of these transfers is estimated at $3.5 billion, based on Friday’s BTC price.
From Dormant Wallets to Active Liquidation
The coins originate from an 80,201 BTC trove that had remained untouched since 2011 until it was recently transferred to Galaxy. Friday's moves included a 22,610 BTC chunk followed by smaller deposits, as noted by blockchain analysts from Arkham and Lookonchain.
Bitcoin Slides as Market Reacts
Bitcoin dropped below $115,000 following the whale liquidation, a 3% dip on the day. Galaxy has already withdrawn $1.15 billion in USDT from exchanges and continues to hold 18,504 BTC from the whale’s original supply. CEO Mike Novogratz recently suggested that ETH could outperform BTC in the coming months.
