According to data provided by Analytics Firm’s Lookonchain, the Financial Services Firm Galaxy Digital operates as a proprietary trading desk, and it sold 10,000 BTC (approximately $1.18 billion) a few hours ago.
This could have contributed to the rather sudden decline in Bitcoin prices that occurred earlier this Friday.
At 4:26 UTC, the top coin price is the lowest since July 10th.
For now, Bitcoin is struggling to recover and is currently trading at $115,564.
As Reported by U.TodaySatoshi-Era whales have recently moved the remaining $4.77 billion to Galaxy Digital.
Lookonchain revealed that the aforementioned 10,000 BTC comes from its OG whales in particular.
The sale doesn’t seem to be over. According to LookonChain, Galaxy Digital sent another 2,850 BTC (approximately $330 million) about 20 minutes ago, putting more pressure on the Bitcoin Bulls.
A giant whale is settled
Following the sharp bitcoin drop, Aguiratrado, a mysterious whale that the community is widely tracking, has been partially liquidated in his huge 20x longer position. The whale lost $2.1 million from its liquidation.
Following the liquidation, the whales continue to hold their position at BTC with a floating loss of $4 million. The overall whale portfolio is currently down to $37 million.
According to Coinglas data, $766.6 million has been liquidated over the past 24 hours, with long positions making up the majority of wipeouts ($551.67 million).
