A "whale" with 80,000 BTC, who was dormant for 14 years and from the same era as Satoshi Nakamoto, was awakened earlier this month. On the 25th, chain data showed that the whale's BTC entrusted to Galaxy Digital has been transferred to cryptocurrency exchanges in batches and started to be sold.
6.8 Thousand BTC Have Been Sold
This afternoon, according to Ember's monitoring, out of the 80,000 BTC held by this whale, 68,000 have already been sold, with another wave of selling expected to completely liquidate its large position:
Today, after Galaxy Digital transferred 22,610 BTC ($2.6 billion) to multiple addresses and exchanges, the "80,000 BTC ancient whale's" 80,202 BTC ($9.53 billion) should have been liquidated by about 68,000. Another wave of selling is expected to completely digest the whale's coins.
Since July 15th, when the "80,000 BTC ancient whale" began transferring BTC to Galaxy Digital for sale, a total of about 68,000 BTC have been transferred to multiple exchanges and addresses in batches of several hundred. The selling method appears to be secondary market sales and over-the-counter (OTC) trading.
- 14,000 BTC entered Binance;
- 8,975 BTC entered Bitstamp;
- 7,420 BTC entered Bybit;
- 7,150 BTC entered OKX.
- About 30,400 BTC transferred to multiple independent addresses (possibly OTC buyers).
This means the "80,000 BTC ancient whale" still has about 12,000 BTC ($1.38 billion) unsold, and given the current market liquidity, digesting the remaining portion should not have a significant impact.
Galaxy Digital Transfers Out 3,715 BTC Again
Meanwhile, according to Ai Yi's monitoring, Galaxy Digital distributed 3,715 BTC worth $428 million to 12 new addresses around 5 PM. Although the address ownership is currently unknown and the receiving addresses have not made any further moves, the community believes this is still part of the selling action.
BTC Breaks Through $116,000
Possibly affected by the whale's sell-off, BTC has been under pressure and falling since this morning, dropping below $115,000 to $114,712. However, at the time of writing, BTC has slightly rebounded and broken through $116,000, currently at $116,050.
