- Galaxy Digital sold 80,000 BTC and pushed the price near the support at $115,000 zone.
- Multiple cryptocurrency exchanges received a part of the $30,000 BTC and $1.5B USDT withdrawn.
- USDT withdrawals followed the sell-off, suggesting holders may rotate into stable assets.
Galaxy Digital has executed one of the largest known Bitcoin transactions, selling over 80,000 BTC worth $9 billion. The move briefly pushed Bitcoin’s price below $115,000 before a swift recovery was seen on exchanges. Nearly 30,000 BTC were moved to trading platforms in multiple tranches, while $1.15 billion in USDT was withdrawn the same day. According to Galaxy, the transaction was part of the client’s estate planning strategy, not a panic-induced liquidation.
Satoshi-Era Coins Resurface After Over a Decade
The transaction involved coins that date back to 2011, commonly referred to as “Satoshi-era” holdings due to their rarity. These coins had remained untouched for over ten years and were linked to a holder from Bitcoin’s earliest development period.
The identity of the seller remains unknown, though Galaxy Digital described the move as part of a larger real estate planning initiative. Data from the blockchain analytics platform Lookonchain showed very large transfers that occurred throughout the day from Galaxy Digital to various exchanges.
This sequence of trades showed the orderly processing in a span of a few hours, a few slips, and powerful absorption of liquidity. Nevertheless, the reaction within the markets was contained, given the fact that there was no long-term crash that was registered even after the sale.
Market Structure Signals Weakness Near Key Levels
Bitcoin’s price action on the 1-hour chart shows a calculated build-up following a recovery from its weekly low near $114,250. As of press time, BTC/USDT trades at $117,970.24 after printing a high of $118,011 and a low of $117,545.10. The chart shows a clear fair value gap paired with a liquidity run and is calling for a bullish intent. The daily candle closed within range, increasing the likelihood of a reversal and a short squeeze toward resting buy-side liquidity.
Multiple signs support the bullish case. A visible CHoCH was registered during the retracement, indicating strength after the sweep of sell-side liquidity. Key Fibonacci levels from the July 25 low confirm that BTC reclaimed the 0.5 level and is now approaching full retracement. Liquidity remains stacked above, with price currently eyeing a break of the July 26 high.
Adding to the momentum, the U.S. Dollar Index, which inversely correlates with BTC, printed a bearish impulse on July 25. This adds confluence to further Bitcoin upside. Galaxy Digital’s $9B BTC sale barely disrupted this macro bullish structure, reinforcing market resilience.
Related: Galaxy Raises $175M to Invest in DeFi and Payments Tech
Could Galaxy’s Exit Trigger More Selling Pressure?
The nature of the transaction was strategic. As price action comes to test the support zones, the risk of major movement by the early holders can prejudice the sentiment in the short term. While Galaxy executed the transfer in an orderly fashion, the accompanying USDT outflows have raised concerns, suggesting a potential rebalancing phase by institutional players shifting toward stablecoins.
Such moves reflect how long-term holders approach liquidity and exit planning in response to shifting market conditions. This growing institutional involvement is adding an age-old wallet into the present-day financial fold under trusted agents such as Galaxy.
