An early holder of Bitcoin, who originally had 80,000 coins, has now transferred nearly 29,000 Bitcoins into Galaxy Digital's wallet. This is likely to cash out, and the amount sold in the future may even exceed 30,000 coins.

I had the Grok4 model estimate based on the current order book depth:

If this account sells 30,000 Bitcoins at once, the market price will likely be suppressed to at least $115,000.

If he intends to sell all 80,000 coins at once, the price of Bitcoin could potentially be pushed down to around $113,000.

This calculation is based on the premise of "only this account performing a large sale." The reality is often more complex—other investors may see this wave of selling and panic sell as well, increasing downward pressure on the market.

Note: The content of this post only represents the critical point of how a large holder clearing their position would cause a market decline, and does not reflect my personal view on the current market fluctuations.