$BTC Galaxy Digital's recent $9 billion Bitcoin (BTC) sale on behalf of a Satoshi-era investor has stirred considerable speculation across the crypto community. Notably, crypto analyst and trader Scott Melker commented that some early Bitcoin whales may be “losing faith” in the asset. This statement ignited a heated debate on X (formerly Twitter), with opinions divided on whether the move signifies waning confidence or simply strategic profit-taking.

Key Details:

Who sold?

The sale was reportedly on behalf of a Satoshi-era investor — meaning someone who acquired BTC in its very early days (pre-2011), possibly when prices were under $1.

Amount sold:

~$9 billion worth of BTC — a massive liquidation that raises eyebrows.

Scott Melker’s view:

He speculated that such a sale from a long-time holder could be a signal of diminishing long-term belief, or at least a major psychological milestone.

Community Reaction:

Bearish interpretations:

Some agreed with Melker, arguing that if early adopters are exiting, it may reflect a lack of conviction in future price growth or concern over regulation and adoption.

Bullish or neutral takes:

Others pushed back, noting:

Taking profits after a 1,000,000%+ gain is rational.

Large sales by old wallets don't necessarily imply loss of belief — it could be estate planning, diversification, or institutional management.

Galaxy acted as an intermediary, suggesting this was likely a carefully managed OTC deal to avoid market disruption.

Context:

This comes amid Bitcoin hovering in the $70,000 range after recent ETF approvals and market optimism. The timing of such a move — during relatively strong market sentiment — adds to the intrigue.

Would you like a breakdown of how such large BTC transfers typically affect the market or wallet-tracking tools to follow whale movements?