Bitcoin Whale Shift 18,300 BTC go Galaxy Digital via OTC
One bitcoin whale wey no dey do anything since 2011 don start to dey move again on July 5, e transfer 18,300 BTC (about $2.14 billion) go Galaxy Digital through OTC, after e move 5,000 BTC for March and 3,157 BTC for June. Galaxy Digital share 2,000 BTC each go Binance and Bybit to reduce how market go shake. Even though people dey fear say dem go dey take profit, bitcoin price only drop small time below $117,000, showing say market get strong depth and institution demand don rise because of the recent US ETF approvals. Traders suppose dey watch Galaxy Digital OTC flow and on-chain metrics for any sign say more big bitcoin whale transfer fit happen plus possible market wahala.
Neutral
Even tho significant 18,300 BTC waka go Galaxy Digital, di use of OTC distribution and previous small transfers help absorb sell pressure. Bitcoin short waka go under $117,000 and quick recovery show say market depth strong and institutional demand dey grow, especially after US ETF approval. For short term, di whale action no too affect price waka up and down. For long term, steady monitoring of OTC flows and on-chain metrics go important, but current condition suggest say market fit handle big transfer without cause serious sell-off, result na neutral outlook.