{"id":25587,"date":"2025-07-25T13:59:04","date_gmt":"2025-07-25T10:59:04","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-slides-towards-115000-amid-galaxy-digital-sales\/"},"modified":"2025-07-25T13:59:04","modified_gmt":"2025-07-25T10:59:04","slug":"bitcoin-slides-towards-115000-amid-galaxy-digital-sales","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-slides-towards-115000-amid-galaxy-digital-sales\/","title":{"rendered":"Bitcoin slides towards $115,000 amid Galaxy Digital sales"},"content":{"rendered":"<p>Galaxy Digital sold 30,000 BTC worth $3.5bn, according to Lookonchain analysts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Update:<a href=\"https:\/\/twitter.com\/hashtag\/GalaxyDigital?src=hash&#038;ref_src=twsrc%5Etfw\">#GalaxyDigital<\/a> has transferred nearly 30,000 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>($3.5B) out today, most of which went directly to exchanges and were sold.<\/p>\n<p>Then <a href=\"https:\/\/twitter.com\/hashtag\/GalaxyDigital?src=hash&#038;ref_src=twsrc%5Etfw\">#GalaxyDigital<\/a> withdrew 1.15B <a href=\"https:\/\/twitter.com\/search?q=%24USDT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDT<\/a> from exchanges.<a href=\"https:\/\/twitter.com\/hashtag\/GalaxyDigital?src=hash&#038;ref_src=twsrc%5Etfw\">#GalaxyDigital<\/a> still holds 18,504 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>($2.14B).<a href=\"https:\/\/t.co\/bVtNwP2iXI\">https:\/\/t.co\/bVtNwP2iXI<\/a> <a href=\"https:\/\/t.co\/Wv1cD3aHbf\">pic.twitter.com\/Wv1cD3aHbf<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1948665986573631687?ref_src=twsrc%5Etfw\">July 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the morning of July 25, the Mike Novogratz\u2013led firm sent more than 10,000 BTC (~$1.1bn) to exchanges.<\/p>\n<p>Some of the coins came from an \u2018early\u2019 whale who began moving assets after 14 years of dormancy. Between July 15 and 17, a Satoshi-era investor <a href=\"https:\/\/forklog.com\/en\/news\/early-bitcoin-whale-moves-another-40000-btc\">sent<\/a> more than 80,000 BTC to Galaxy Digital. At the time, experts suggested he was preparing to sell via the platform\u2019s OTC service.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Note that <a href=\"https:\/\/twitter.com\/hashtag\/GalaxyDigital?src=hash&#038;ref_src=twsrc%5Etfw\">#GalaxyDigital<\/a> has deposited over 10,000 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>($1.18B) to exchanges in the past 8 hours!<\/p>\n<p>The 10,000+ <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> comes from the Bitcoin OG holding 80,009 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>($9.68B).<a href=\"https:\/\/t.co\/qaSj0NKwmD\">https:\/\/t.co\/qaSj0NKwmD<\/a> <a href=\"https:\/\/t.co\/09XEqB6VGg\">pic.twitter.com\/09XEqB6VGg<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1948596074849206467?ref_src=twsrc%5Etfw\">July 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hours later, Lookonchain said Galaxy Digital had sold all the bitcoins received. The firm withdrew $370m in USDT from exchanges, then a further $1.15bn. It still holds 18,504 BTC worth $2.14bn.<\/p>\n<p>Amid the selling, Mike Novogratz told <a href=\"https:\/\/www.youtube.com\/watch?v=mgOtj3KAMU0\">CNBC<\/a> that in the coming months Ethereum would outpace Bitcoin in growth. He said institutional interest in ether could trigger a supply squeeze in the second-largest cryptocurrency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe will inevitably approach the $4,000 mark, and perhaps more than once,\u201d he said.<\/p>\n<\/blockquote>\n<p>Novogratz also added that a $150,000 price for digital gold looks like \u201ca perfectly achievable target\u201d.<\/p>\n<h2 class=\"wp-block-heading\">Panic among investors<\/h2>\n<p>Markets reacted swiftly. Bitcoin holders began selling the first cryptocurrency, pushing its price down 2.6%.<\/p>\n<p>At the time of writing, digital gold trades at $115,582.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXchAPFcaA9hyf-YWfbn-v_rUklaTFg6q--SWjE0YWwHLCkZ3OH4VGMtcnrZrSMmhVNkPp-a59zOWOuSDktwqmy0thpknP-HWDYtPmd0lbpOIitI1FUWEIIdG1vWB3LVLoip2AT7?key=OPlKFDPsFOTthIYLQCYQjA\" alt=\"Bitcoin slid towards $115,000 amid Galaxy Digital sales\"\/><figcaption class=\"wp-element-caption\">Hourly BTC\/USD chart on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Some crypto analysts think Bitcoin could fall further. A user going by Daan Crypto Trades noted that if the current range breaks, the price of the first cryptocurrency could drop to $113,500.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> Testing its range low and swept the local liquidity.<\/p>\n<p>Most of this sell off is coming from Galaxy Digital which has sent $2B+ of Bitcoin to exchanges to sell. This is still part of that 80K BTC whale. The Bitcoin price has stalled ever since those coins started moving.<\/p>\n<p>A\u2026 <a href=\"https:\/\/t.co\/8m04lS4JC4\">https:\/\/t.co\/8m04lS4JC4<\/a> <a href=\"https:\/\/t.co\/fRW4DtBwL2\">pic.twitter.com\/fRW4DtBwL2<\/a><\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) <a href=\"https:\/\/twitter.com\/DaanCrypto\/status\/1948637016276537637?ref_src=twsrc%5Etfw\">July 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cFor now Bitcoin is holding within the range, but if the selling continues, it will be hard to hold,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>The well-known Hyperliquid whale <a href=\"https:\/\/forklog.com\/en\/news\/rise-of-a-neo%e2%80%91grifter-who-is-james-wynn-and-what-andrew-tate-has-to-do-with-it\">James Wynn<\/a> likewise projected that BTC could slide to $113,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> is going to $113,000<br \/> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> is going to $3,000<\/p>\n<p>Alts will CRASH HARD.<\/p>\n<p>Prepare for impact\u2026 <a href=\"https:\/\/t.co\/hP7aYRp9nd\">pic.twitter.com\/hP7aYRp9nd<\/a><\/p>\n<p>\u2014 James Wynn \ud83e\udd34 (@JamesWynnReal) <a href=\"https:\/\/twitter.com\/JamesWynnReal\/status\/1948576846708400242?ref_src=twsrc%5Etfw\">July 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Not everyone in the crypto community is pessimistic. A trader using the pseudonym Ether Wizz expects Bitcoin\u2019s drop to support a rise in altcoins.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Galaxy Digital has been dumping <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> non-stop \ud83d\udcc9<\/p>\n<p>Just today, they have dumped 12.85K BTC worth $1.5 billion on exchanges.<\/p>\n<p>This has caused BTC to dump below $115K and now it&#8217;s trying to stabilize.<\/p>\n<p>But there&#8217;s one good thing.<\/p>\n<p>Last time, Galaxy Digital dumped BTC, alts rally\u2026 <a href=\"https:\/\/t.co\/pBAPtSi7lg\">pic.twitter.com\/pBAPtSi7lg<\/a><\/p>\n<p>\u2014 Ether Wizz (@EtherWizz_) <a href=\"https:\/\/twitter.com\/EtherWizz_\/status\/1948629854317887749?ref_src=twsrc%5Etfw\">July 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThere is good news. When Galaxy Digital dumped BTC before, altcoins soon began to rise,\u201d the expert noted.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">As some sell, others buy<\/h2>\n<p>Meanwhile, Britain\u2019s The Smarter Web <a href=\"https:\/\/investors.smarterwebcompany.co.uk\/investors\/_img\/pdf\/news\/2025-07-25-bitcoin-purchase.pdf\">acquired<\/a> 225 BTC for $26.4m. The average purchase price was $118,076 per coin.<\/p>\n<p>The firm now manages a total of 1,825 BTC, bought at an average of $109,088. The company, shifting from web design to a Bitcoin treasury strategy, said it has $1.3m in cash for further purchases.<\/p>\n<p>The Smarter Web CEO Andrew Webley called Bitcoin \u201cthe best asset in the world\u201d and a key reserve for the business\u2019s future needs.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSince our <span data-descr=\"initial public offering of shares\" class=\"old_tooltip\">IPO<\/span> we have raised more than \u00a3100m in equity without taking on debt (aside from a small director\u2019s loan, repaid after the reporting period), which puts us in an exceptionally strong position to execute our long-term strategy,\u201d he added.<\/p>\n<\/blockquote>\n<p>On July 23, a crypto investor <a href=\"https:\/\/forklog.com\/en\/news\/whale-bets-5-million-on-bitcoin-falling-below-110000\">placed<\/a> a large bet on the first cryptocurrency falling below $110,000 by early August.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Galaxy Digital sold 30,000 BTC worth $3.5bn, according to Lookonchain analysts. Update:#GalaxyDigital has transferred nearly 30,000 $BTC($3.5B) out today, most of which went directly to exchanges and were sold. Then #GalaxyDigital withdrew 1.15B $USDT from exchanges.#GalaxyDigital still holds 18,504 $BTC($2.14B).https:\/\/t.co\/bVtNwP2iXI pic.twitter.com\/Wv1cD3aHbf \u2014 Lookonchain (@lookonchain) July 25, 2025 On the morning of July 25, the Mike [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1146,770],"class_list":["post-25587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-galaxy-digital"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25587"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25586"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}