How Galaxy Digital’s $9 Billion BTC Sale Impacts Market Sentiment
2025-07-27
The cryptocurrency market was briefly shaken this week after Galaxy Digital confirmed it had completed one of the largest Bitcoin (BTC) sales in history. The sale involved 80,000 BTC, valued at nearly $9 billion, transferred from a long-dormant wallet that had held the coins since the early days of Bitcoin.
As the transaction hit trading desks, market watchers saw the BTC price dip below $115,000. But by Friday, Bitcoin had already started to recover, suggesting that traders may have absorbed the impact better than expected. What does this mean for sentiment in the crypto market?
Galaxy Digital Facilitates Rare Whale Move
Galaxy Digital, the asset manager at the center of this historic transaction, revealed on Friday that it had completed the full sale of 80,000 BTC on behalf of a private client.
According to the firm, the sale was part of the client’s estate planning and represented “one of the largest notional bitcoin transactions in the history of crypto.”
The BTC originated from a Satoshi-era wallet, a reference to wallets that have remained untouched since Bitcoin's earliest years. These wallets are often viewed with intrigue and sometimes fear in the community, as their sudden reactivation could imply massive supply shocks.
When the whale first transferred the BTC this month, speculation spread quickly, driving volatility across major exchanges and putting pressure on the bitcoin price.
Initial Reaction: A Dip Followed by a Bounce
The initial market reaction was cautious. On Thursday night, the BTC price briefly dipped below $115,000, a level seen as critical support in current trading patterns. Analysts linked this drop to Galaxy’s offloading of the BTC, much of which was sent to trading platforms overnight.
By Friday morning, however, bitcoin had recovered and was trading around $117,200. While still down slightly for the day, the quick rebound suggested that the market had priced in the selling pressure. Traders now appear to be looking ahead rather than reacting to the past move.
This response indicates a level of maturity in today’s crypto markets. Unlike in previous years, when whale activity could cause panic and lead to prolonged downturns, the current cryptocurrency market showed resilience.
It also highlights improved liquidity across exchanges and more sophisticated trading infrastructure, allowing for smoother absorption of large transactions.
Read more about Bitcoin (BTC):
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Market Outlook: Is the Bottom In?
Some analysts believe the Galaxy Digital sale may have already marked a local bottom. With the overhang of 80,000 BTC now removed, the market can refocus on fundamentals, sentiment, and technical trends.
John Glover, chief investment officer of crypto lender Ledn, shared a note with investors predicting that Bitcoin could be on track for another push toward new highs.
According to his Elliott Wave analysis, the completion of this transaction may serve as the end of a wave correction. Glover expects Bitcoin to resume its upward trend soon and reach near $132,000 in the coming weeks if momentum holds. Such predictions are speculative, but they reflect a broader optimism now that one of the largest BTC news today has played out without significant long-term damage.
What This Means for Crypto Investors
For crypto investors, the key takeaway is not only the size of the sale but how the market responded. Massive whale transactions often raise concerns about oversupply or incoming selloffs. In this case, the bitcoin price did briefly decline, but stabilized quickly.
The fact that this $9 billion sale was absorbed without triggering deeper losses speaks to the strength of current demand and investor confidence.
Moreover, the nature of the sale, estate planning by a long-term holder, may reassure the market that it was not a signal of broader bearish sentiment.
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FAQ
What is a whale in Bitcoin?
In Bitcoin, "whales" are market players who hold significant amounts of funds, enough to influence the cryptocurrency market. These large players can be institutions like hedge funds and Bitcoin investment funds.
Who are the Bitcoin whales?
Crypto whales can be private individuals, corporations, or organizations. They often prefer to trade "over-the-counter" (directly with another party) to avoid causing big market disruptions. However, some whales might intentionally try to influence the market with very large transactions, which can have both good and bad effects.
How much Bitcoin do whales own?
At the top of the Bitcoin holder hierarchy are "Whales," which are individuals or entities that hold more than 1,000 BTC. They are considered the top influencers in the crypto world, capable of moving markets.
How much Bitcoin do you need to be a whale?
While there's no exact rule, some experts classify investors as Bitcoin whales if they own 1,000 units or more of BTC, or if they own $10 million worth of a specific cryptocurrency.
Disclaimer: The content of this article does not constitute financial or investment advice.
