Dormant Bitcoin Whale Send 25,360 BTC Go Galaxy Digital, Total $4.16B
On di 15th July, one long-sleep Bitcoin whale begin wok again, e send 20,000 BTC inside seven transactions go Galaxy Digital between 09:30 and 13:30 UTC. Later, dis same Bitcoin whale move extra 5,360 BTC wey worth about $198 million go Galaxy OTC desk and cold wallets, bring e total deposit to $4.16 billion. Crypto traders dey see these on-chain BTC transfer as signal say people fit wan sell, wey dey usually happen before short time price drop. Di whale address, wey connected to early miners holding, show say e dey take strategy to profit as Bitcoin rally pass $122,000. Bitcoin don decrease about 4.4% to $117,000 since, wey make market shake more. Traders go dey watch order books and price move well well cos more whale activity fit test market strength and fit shape how dem go trade soon.
Bearish
For short term, di big-big on-chain BTC transfers from di whale go Galaxy Digital show say e fit get sell-side pressure, wey don already cause 4.4% price pullback plus increased volatility. Dis one fit make market people trade with caution and e fit cause more deeper pullback as market liquidity dey adjust. But for long term, dis kind strategy wey early holders and miner-linked address dey take profit fit mean say institution dem dey involved well well and market dey rotate healthy, no be panic selling. If institutional money continue balance di whale outflows, Bitcoin fit keep di overall bullish trend. Traders still gats prepare for high price wahala and adjust their position well well.