Galaxy’s Bitcoin Fire Sale: Crash Incoming? 😱

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Oh, look, just days after Galaxy Digital pulled off what I can only call the crypto equivalent of dumping a truckload of cash into a volcano, their wallets are twitching again. I mean, who knew that holding Bitcoin was like owning a hyperactive squirrel? 🐿️😂

Summary

  • Galaxy Digital’s wallets are shuffling more Bitcoin post their billion-dollar blunder – because nothing says “smart investing” like a sequel to a disaster movie. 😏
  • They sold the last batch through sneaky OTC and secondary markets, probably to avoid scaring off the price like a bad blind date. 💔
  • Bitcoin’s chilling out thanks to ETF money flowing back in, acting like a financial sponge for all this selling pressure – how convenient! 📈🤷‍♂️

According to some blockchain snoops at Lookonchain, Galaxy Digital just shifted 3,782 Bitcoin – that’s about $447 million – straight to exchanges. This comes hot on the heels of their earlier $9 billion spectacle. It’s like they’re hosting a never-ending garage sale for digital gold. 🔄💸

The company bragged about handling the sale of over 80,000 BTC for some ancient “Satoshi-era whale.” I picture this whale as a dusty old timer who finally realized Bitcoin isn’t just for hoarding under the mattress. 🐋🛏️

“Galaxy completed the sale of more than 80,000 bitcoin—valued at over $9 billion—for a Satoshi-era investor, representing one of the earliest and most significant exits. The transaction was part of the investor’s broader estate planning strategy,” they said, probably with a straight face while I’m over here laughing into my coffee. ☕😆

As I recall from my own crypto misadventures – yes, I once thought about buying Bitcoin and chickened out – Galaxy still has a bunch left, like 18,000 BTC, with some untouched. Now, with this new wave of wallet waltzing, it smells like more liquidation is on the horizon. But hey, maybe they’re just reorganizing for fun. 🎭

So far, Bitcoin’s price hasn’t thrown a tantrum, thanks to those clever sales methods that cushioned the blow. But with another $400 million loose, everyone’s eyeing it like it’s a suspicious mole. 🧐

Despite all this wallet drama, Bitcoin’s price is hanging in there at $118,944, dipping a bit but not panicking. It’s like that friend who stays calm during chaos – admirable, or just in denial? 🤔

BTC holds firm as ETF inflows return

Trading around $118,944, Bitcoin’s bounced back from a dip to $117,000, only down 0.48% in the last day. Still under $120,000, but who’s counting? The ETFs are stepping up with $157 million in inflows, sucking up the excess supply like a vacuum cleaner. If this dump parade continues, though, volatility might crash the party – fingers crossed for excitement! 🎉💥

And just to rub it in, Bitcoin’s 3.3% below its peak, meandering sideways. If these big sells keep coming, it could get bumpy, but what do I know? I’m just here with my popcorn. 🍿😂

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2025-07-29 12:08