Galaxy Digital May Have Dumped 10K BTC
Galaxy Digital reportedly sold $1.18B in BTC and withdrew $370M USDT, sparking Bitcoin’s 3% drop.
- Galaxy may have sold 10,000 BTC worth $1.18B
- $370M USDT pulled from major exchanges in 3 hours
- Bitcoin price drops 3% amid the selloff concerns
Galaxy Digital Sparks Selloff Rumors
Crypto markets are rattled as speculation grows that Galaxy Digital may have just unloaded a massive 10,000 BTC — worth approximately $1.18 billion. The sudden movement coincides with a sharp 3% drop in Bitcoin’s price, fueling fears that a major selloff may be underway.
Adding to the intrigue, Galaxy reportedly withdrew $370 million in USDT from major exchanges like OKX, Binance, and Bybit within a short 3-hour window. The timing has raised eyebrows across the community.
Is Galaxy Behind the Bitcoin Drop?
Bitcoin’s 3% decline has prompted questions: Is Galaxy Digital the main driver behind this dip?
While there’s no official confirmation from Galaxy itself, on-chain sleuths have tracked wallet activity pointing to large BTC outflows and stablecoin withdrawals tied to the firm. These moves often signal liquidity repositioning or asset offloading.
Such a large BTC sale could easily put downward pressure on price, especially in a market with reduced volume or during a period of broader uncertainty.
What Traders Should Watch Next
For now, the crypto community is keeping a close eye on Galaxy Digital and its wallets. If the firm is indeed reducing its Bitcoin exposure, it could trigger a wave of caution among institutional and retail investors alike.
However, others argue this might just be portfolio rebalancing or strategic movement ahead of market catalysts. Until clarity surfaces, traders should brace for increased volatility and monitor key support zones for Bitcoin — especially around the $60,000 mark.
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