$BTC
Breaking: Bitcoin Tumbles as Dormant Whale Offloads Billions
Bitcoin took a sharp dive earlier today, briefly dipping below $117,000 to hit an intraday low of $116,218, after a massive Satoshi-era whale began offloading BTC.
On-chain data from Lookonchain reveals the long-dormant wallet—holding over 80,000 BTC—transferred 9,000 BTC (valued at approximately $1.06 billion) to Galaxy Digital. Soon after, another 7,843 BTC was moved, escalating downward pressure on the market.
Galaxy Digital has reportedly started moving the coins to major exchanges, including Binance and Bybit, with deposits totaling around $236 million in BTC.
The whale activity spooked the market. Another major player quickly reversed their long position and went short, anticipating further downside. As highlighted by U.Today, a surge in profit-taking suggests a potential short-term top.
According to CoinGlass, more than $406 million in long positions were liquidated within just four hours—underscoring the selloff’s intensity.
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