Key Takeaways
Galaxy Digital just orchestrated this colossal Bitcoin dump—over 80,000 BTC from some relic of the Satoshi era—and Bitcoin? It barely blinked. Price dipped a tad but sprang back like it was no big deal. Must be all that “resilient demand” or whatever they’re calling it these days. 😉
On July 25th, Galaxy Digital announced they handled the sale of more than 80,000 Bitcoin for a wallet that’s probably older than my last relationship. They dubbed it “one of the largest notional Bitcoin transactions ever.” Oh, how thrilling—nothing says excitement like moving digital money around. 🙄
The company’s blog claimed it was part of the investor’s “broader estate planning strategy.” Sure, because when I’m planning my estate, I think, “Time to cash in on that volatile crypto!” Not exactly what I’d call a solid plan, but who am I to judge? 😂
“The transaction was part of the investor’s broader estate planning strategy.”
Details like the exact date and price? Forget about it—they didn’t bother sharing. Probably because the real story is in the chaos, not the nitty-gritty. 🤷♂️
Meanwhile, Lookonchain data showed Galaxy shuffling 30,000 BTC, mostly to exchanges for a quick sale. It’s like they were hosting a fire sale, but for imaginary money. Who needs physical goods when you can trade pixels? 🛒
Will fears of a local top come true?
On the day of the big reveal, Bitcoin plummeted to $114.7k, a drop that had everyone clutching their pearls. But true to form, it bounced back to $117.5k in under 24 hours—faster than I can finish a bag of chips. 📈😏
Bitcoin’s been loitering in a range for the past two weeks, somewhere between $116.7k and $112.7k (orange highlight, because why not make it look fancy?). The dip turned things bearish, and sure, a slide to $111k seemed possible. But nah, it held steady, probably laughing at our panic. 😆
This whale of a sell-off might’ve fueled the fire, especially with profit-takers jumping ship and exchange inflows going haywire. Suddenly, it’s all doom and gloom predictions—classic crypto drama. 🎭
Analysts weigh in
A $9 billion Bitcoin bonfire and the price hardly flinches. Joe Consorti from Theya posted on X: “80,000 BTC, over $9 billion, was sold into open market order books, and bitcoin barely moved.” Oh, Joe, it’s almost impressive how unflappable this digital darling is. Or maybe it’s just too tired to care. 😴
“80,000 BTC, over $9 billion, was sold into open market order books, and bitcoin barely moved.”
Another analyst jumped in, crowing about how the sale was “fully absorbed,” signaling rabid demand. Fervent? More like feverish delusion. But hey, in the wild world of crypto, who’s counting? 😂
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2025-07-26 16:21