Bitcoin Sell-Off Intensifies: Galaxy Digital Moves 2,850 BTC to Exchanges

• Galaxy Digital deposits 2,850 BTC ($330.44M) to exchanges, continuing a Bitcoin OG’s sell-off.
• The OG, a potential 2011 miner, has realized a 72,000x profit from an initial $132,000 investment.
• Market volatility spikes as 10,000+ BTC moves trigger a 3% price drop in 8 hours.

The cryptocurrency market is buzzing as a major Bitcoin sell-off continues, with Galaxy Digital depositing an additional 2,850 BTC—valued at $330.44 million—into exchanges, according to a post by @lookonchain on X.

This move is part of a broader trend initiated by a Bitcoin OG holding 80,009 BTC, who began transferring assets on July 15, 2025, starting with 40,009 BTC to Galaxy Digital. The latest transaction, reported at today, signals a strategic cash-out, potentially driven by Bitcoin’s recent climb to an all-time high near $120,834, as noted by AInvest on July 18, 2025.

This OG, likely a 2011-era miner, has reaped a staggering 72,000x profit, turning an initial $132,000 investment into approximately $9.53 billion. Blockchain analytics from Onchain Lens and The Block suggest the whale is leveraging Galaxy Digital’s over-the-counter (OTC) services to offload holdings discreetly, with portions already moved to exchanges like Binance and Bybit. The rapid pace of these transfers—10,000+ BTC deposited in the past 8 hours—coincides with a 3% Bitcoin price drop, highlighting potential market pressure. Historical volatility data from Bitbo.io indicates such large moves often trigger amplified investor reactions, raising speculation about further declines.

Market sentiment is mixed, with some X users like @BasedGranpa and @Steffan0xd suggesting a rotation into Ethereum, while others, such as @paidoffalts, predict further downside. The OG’s remaining holdings, now reduced to under 40,000 BTC, could still influence prices if the sell-off persists. Galaxy Digital’s recent withdrawal of 370M USDT from exchanges adds to the narrative of profit-taking, a pattern consistent with the whale’s three-day unloading of its full 80,202 BTC stash.

As Bitcoin hovers around $115,944 (per Galaxy Digital’s portfolio data), traders are on edge, watching for the next move. This sell-off underscores the impact of whale activity on crypto markets, blending opportunity with uncertainty for investors.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.