Galaxy Digital Sells 26K BTC During Low-Liquidity Hours

Galaxy Digital made a significant move by offloading 26,309 BTC, valued at around $117,700, through OTC and exchanges during a period of low liquidity. This action took place 7 hours ago, coinciding with the Asian trading session when liquidity typically decreases.

Impact of the Sell-Off

Stablecoins were observed flowing into Galaxy Digital’s wallets from major exchanges like Binance, Bybit, OKX, and Bitstamp. The sell-off caused the price of Bitcoin to drop to $114,850, although it later rebounded.

Despite the significant sale, Galaxy Digital still retains a substantial amount of Bitcoin, holding 18,504 BTC, which is equivalent to $2.14 billion.

ETH Shows Resilience with Stronger Inflows

On the other hand, Ethereum (ETH) managed to hold its ground better amidst the BTC sell-off, benefiting from stronger inflows during this volatile period.

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