Galaxy Digital Dumps $9B in Bitcoin—Here’s Why the Market Didn’t Flinch and What It Means for Your Portfolio
The company’s official blog stated,
“The transaction was part of the investor’s broader estate planning strategy.”
Details such as the exact execution date and price were not disclosed.
However, data from Lookonchain showed several sizeable BTC transactions throughout the day. In all, Galaxy Digital had transferred 30,000 BTC, most of which were sent to exchanges and sold.
Will fears of a local top come true?
Source: BTC/USDT on TradingView
On the day of the aforementioned announcement, Bitcoin fell to the $114.7k mark, a 3.15% drop. It quickly recovered and was trading at $117.5k at the time of writing, just 24 hours later.
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