July 15, 2025

Bitcoin originally broke through $120,000, but today it has pulled back a few thousand dollars. The main reason is that the ancient whale address with 80,000 BTC started to offload. According to on-chain data, this address transferred 9,000 Bitcoins to Galaxy Digital and then continued to transfer tens of thousands more. By the time I wrote this article, it had already transferred 28,600 Bitcoins, and its associated address had 40,000 Bitcoins that had moved, which means it is very likely to sell 40,000 Bitcoins, worth over $5 billion.

Galaxy Digital is currently the largest and most compliant over-the-counter trading platform. Transferring to their address essentially means facilitating over-the-counter trades, which is good news. On one hand, it indicates that this address is not directly dumping in the market; otherwise, the impact would be much larger. On the other hand, it also shows that current over-the-counter buyers still have a lot of confidence, buying Bitcoin worth billions without hesitation. From the market sentiment, compared to the last large-scale sell-off by the German government, there is almost no negative interpretation in the market this time.

This is certainly because, when Bitcoin's price reached $120,000, market liquidity further strengthened. I believe this is also a signal that the market will continue to strengthen. Any sudden incident is not an absolute negative or positive; it is clear that someone wants to sell tens of thousands of Bitcoins, which should be a negative signal, but if someone continues to buy, isn't that also a great opportunity to validate buying interest? The major players did not use this whale incident to spread panic, which is intriguing.

As for trading strategies, although I am bullish on the upcoming market, especially in the next 2-3 months, which may lead to a vast bull market, there is really no need to bet on 1-2 altcoins. The best time to build positions, as I have repeatedly mentioned in previous articles, was a few months ago. The correct approach now should be to find good profit-taking opportunities rather than considering how to buy more chips.

Thank you for your attention and likes.