Galaxy Digital moves $447M in Bitcoin to exchanges, sparking sell-off speculation

Key Takeaways

• Galaxy Digital moved 3,782 BTC, worth $447 million, to exchanges within 12 hours.
• The transfers have raised concerns of potential selling pressure and heightened market volatility.

Galaxy Digital sent 3,782 Bitcoin (BTC) worth around $447 million to crypto exchanges over the past 12 hours, according to Arkham Intelligence data , igniting fresh speculation about a major sell-off.

The transfer follows Galaxy Digital’s sale of over 80,000 BTC last week, the largest known Bitcoin liquidation, for a Satoshi-era investor who reactivated his wallet after 14 years of dormancy.

Bitcoin briefly plunged to $115,000 following Galaxy’s earlier BTC move but rebounded above $119,000 once the selling pressure eased. At press time, it was trading at $117,834, down 1.5% over the past 24 hours, according to CoinGecko.