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Galaxy Digital Breaks Record With $9B Bitcoin Sale For Estate Planning

Galaxy Digital Breaks Record With $9 Billion Bitcoin Sale For Estate Planning

Sebastian Villafuerte
by Sebastian Villafuerte
1 month ago
·
Posted in Bitcoin News, Uncategorized
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin has experienced massive volatility following confirmation that Galaxy Digital executed the sale of 80,000 BTC on behalf of a long-term client. The firm’s July 25 press release revealed that the transaction, one of the largest notional Bitcoin sales in history, was successfully completed and immediately shook the market. The news quickly spread across the crypto space, triggering speculation and sharp price fluctuations.

Related Reading: Galaxy Digital Unloads 22,700 Bitcoin To Exchanges As Selling Accelerates

At its peak, Bitcoin recently touched the $123,000 mark, but the announcement spurred heavy selling and raised concerns that this might mark a local top. Short-term holders began realizing losses as the price pulled back, while analysts debated whether this historic exit signals distribution at the top or merely a healthy pause in a longer bull trend.

As Galaxy’s role in the transfer becomes clearer, attention turns to the broader implications. Many market participants now wonder if more legacy holders are preparing to exit and what impact this may have on Bitcoin’s path forward. With volatility growing and investor sentiment shaken, all eyes are on how the market absorbs this $9 billion sell-off and whether support levels will hold in the coming days.

A Historic Exit: Bitcoin Sale Triggers Market Speculation, Local Top Fear

Galaxy Digital has confirmed the successful execution of one of the largest notional Bitcoin transactions in crypto history. The firm completed the sale of more than 80,000 BTC—valued at over $9 billion at current market prices—on behalf of a Satoshi-era investor. According to the company, this historic sale was part of the investor’s broader estate planning strategy, marking one of the earliest and most significant exits from the digital asset market to date.

The announcement has sent ripples through the market, not only due to the sheer volume of Bitcoin involved but also due to speculation surrounding the identity of the investor. As details remain confidential, many analysts are debating whether the move signals a shift in market sentiment or simply reflects natural profit-taking after a prolonged bull trend.

Some analysts argue that this sale is part of a healthy cycle, where early holders begin to realize gains after years of holding through multiple market cycles. They believe the market has the liquidity and institutional interest to absorb such a sale without long-term damage. However, others interpret the timing and size of the sale as a potential warning sign—a signal that Bitcoin may have reached a local top around the $123K mark.

Related Reading: “Bitcoin Cycle Theory Is Dead” – Crypto CEO Apologizes For Bearish Misfire

BTC Faces Critical Retest After Breakdown Below Support

Bitcoin is trading at $117,407 after briefly dipping below the $115,724 support zone marked on the chart. This level has served as the lower boundary of the range that began forming in early July, with resistance at $122,077.61. The price reacted quickly after the breakdown, reclaiming the 50-day SMA on the 8-hour chart, suggesting the pullback may have been a liquidity sweep rather than a confirmed trend reversal.

BTC testing key levels | Source: BTCUSDT chart on TradingView
BTC testing key levels | Source: BTCUSDT chart on TradingView

Volume spiked during the dip, indicating aggressive buying interest near support. However, Bitcoin remains below the 50-SMA ($117,593), which now acts as immediate resistance. The 100-SMA and 200-SMA remain comfortably below, confirming the longer-term bullish structure is intact, though momentum is weakening in the short term.

Related Reading: Trump’s WLFI Ethereum Bet Grows: Wallet Now Holds $281M In ETH

If bulls can push BTC back above the $118,000 area and reclaim range highs, a retest of $122,000 is likely. On the flip side, failure to hold above $115,724 could trigger a drop toward the 100-SMA at $112,548, or even the 200-SMA at $109,436 if selling accelerates.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Sebastian Villafuerte

Sebastian Villafuerte

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

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