Categories: Crypto

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.

Share this article

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.

https://twitter.com/lookonchain/status/1950008954555171243?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer

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.

Share this article



Source link

Adam Forsyth

Share
Published by
Adam Forsyth

Recent Posts

Microsoft Office Lifetime License | Mashable

TL;DR: Grab Microsoft Office 2021 at just $49.97 (reg. $219) and enjoy lifetime access to…

26 minutes ago

Latam Bitcoin Pioneer Meliuz Expands Into US Markets

Meliuz, the largest Bitcoin Treasury Company in Latin America, has completed its expansion into U.S.…

29 minutes ago

Why PEPETO is leading the pack among today’s crypto coins

Disclosure: This article does not represent investment advice. The content and materials featured on this…

47 minutes ago

Russia Is Cracking Down on End-to-End Encrypted Calls

WIRED copublished an investigation this week with The Markup and CalMatters showing that dozens of…

1 hour ago

Kraken halts Monero deposits after single pool takes over 50% hashrate control

Key Takeaways Kraken has halted Monero deposits after a single mining pool seized more than…

2 hours ago

Ultrahuman acquires viO HealthTech to launch enhanced cycle and ovulation tracking

Smart ring maker Ultrahuman is acquiring women’s health technology company viO HealthTech to launch advanced…

3 hours ago