Galaxy Digital’s $1.5B BTC Transfer Spurs $706M Liquidations
Galaxy Digital moved a total of 12,850 BTC ($1.5B) to exchanges over a few hours. This large Bitcoin transfer intensified selling pressure and pushed BTC to a two-week low near $115,080. Lookonchain data shows the outflows worsened buyer sentiment and stalled price recovery. The surge in sell orders triggered $706.7M in liquidations within 24 hours, with $551.7M from leveraged long positions. Whale trader AguilaTrades faced a partial liquidation on a 20× long, losing $2.1M and carrying a $4M deficit, shrinking their portfolio to $37M. CoinGlass data highlights a spike in forced closures amid heightened volatility. These developments underscore Bitcoin’s sensitivity to whale movements and persistent market fragility. Traders should monitor ongoing selling pressure and manage risks on leverage.
Bearish
Galaxy Digital’s massive BTC transfer to exchanges flooded the market with sell orders. This triggered over $706M in liquidations and exacerbated downward pressure on price. Whale outflows often signal increased supply, suppressing short-term Bitcoin rallies. While liquidation of leveraged positions can pave the way for stability later, the immediate effect is bearish, as traders face forced closures and amplified volatility. This aligns with the view that large whale movements heighten risk and weigh on market recovery.