Dormant Bitcoin Whale Sends 25,360 BTC to Galaxy Digital, Totaling $4.16B
On July 15, a long-dormant Bitcoin whale resumed activity, sending 20,000 BTC in seven transactions to Galaxy Digital between 09:30 and 13:30 UTC. Later, the same Bitcoin whale transferred an additional 5,360 BTC—worth roughly $198 million—to Galaxy’s OTC desk and cold wallets, bringing its cumulative deposits to $4.16 billion. Crypto traders view these on-chain BTC transfers as potential sell-side pressure signals, often preceding short-term price dips. The whale’s address, linked to early miner holdings, suggests strategic profit-taking amid Bitcoin’s recent rally above $122,000. Bitcoin has since retraced about 4.4% to $117,000, heightening market volatility. Traders will monitor order books and price movements closely as increased whale activity may test market resilience and shape near-term trading strategies.
Bearish
In the short term, the whale’s large on-chain BTC transfers to Galaxy Digital indicate potential sell-side pressure, which has already contributed to a 4.4% price pullback and heightened volatility. This could prompt further cautious trading and deeper retracements as market liquidity adjusts. Over the longer term, however, such strategic profit-taking by early holders and miner-linked addresses may reflect broader institutional engagement and healthy market rotation rather than panic selling. If institutional inflows continue to balance whale outflows, Bitcoin could maintain its overall bullish trend. Nevertheless, traders should prepare for elevated price swings and adjust positions accordingly.