Leading cryptocurrency Bitcoin (BTC) has been declining following increased selling pressure following its ATH of $123,000 in recent weeks.
At this point, while BTC fell to the level of 115 thousand dollars, it was stated that Galaxy Digital's BTC transfer, which reached a total of 3.5 billion dollars, was behind this decline.
According to data from Lookonchain, Galaxy Digital transferred 30,000 BTC worth approximately $3.5 billion today.
Lookonchain noted that the company sent most of these BTC directly to exchanges and sold them.
Sharp Fall in Bitcoin!
Bitcoin experienced its steepest decline in recent days, falling from $118,000 to $115,000 overnight.
While Galaxy Digital's sales were influential in Bitcoin's decline, these transactions attracted attention because they occurred immediately after the company recently acquired 80,000 BTC from a wallet dating back to the Satoshi era that had been dormant for 14 years.
While Galaxy Digital’s BTC transfers further fueled fears of selling pressure, it was stated that Galaxy Digital still holds 18,504 BTC worth $2.14 billion.
Galaxy Digital CEO Mike Novogratz told CNBC yesterday that Bitcoin could reach $150,000 and Etheruem could reach $10,000 by the end of the year.
*This is not investment advice.
