Bitcoin News Today: Decades-Old Bitcoin Wallet Moves $1.18 Billion to Exchanges Bitcoin Dips 6% as Traders Fear Volatility

A decades-old Bitcoin wallet, holding approximately 80,000 BTC (worth around $9.7 billion), has transferred 40,000 BTC to Galaxy Digital on July 15 and another 40,000 BTC on July 18, totaling $1.18 billion in value [1]. Blockchain intelligence firm Lookonchain confirmed the movement, noting that Galaxy Digital has since redistributed over 10,000 BTC to major exchanges including Binance, Bybit, Bitstamp, Coinbase, and OKX [2]. The transaction has raised concerns among traders about potential price volatility, particularly as Bitcoin hovers near all-time highs and market liquidity remains subdued during weekends.

The wallet, active since 2011, had previously shown no activity during past bull markets but began liquidating its holdings in late July 2025. Earlier transfers on July 4 and subsequent large blocks of 40,000 BTC were also directed to Galaxy Digital [3]. On-chain analyst EmberCN estimated that roughly 12,000 BTC ($1.38 billion) from the wallet remain to be sold, with much of the remaining volume likely to be handled via over-the-counter (OTC) deals to mitigate market impact [4]. However, if these assets enter public order books, analysts warn that support levels near $112,000–$115,000 could face significant pressure, particularly during periods of low trading volume [5].

Bitcoin’s price has already experienced a 6% decline from its July 14 peak of $123,153 to $115,700 by July 24, with further dips to $115,956 observed by July 25. The sell-off coincided with mixed macroeconomic signals, including elevated U.S. inflation data that bolstered the dollar and pressured risk assets [6]. Crypto liquidation trackers reported substantial losses in leveraged positions around the $115,000 level, amplifying market fragility.

Analysts remain divided on the implications. While some caution against overreacting to whale activity, Bitfinex analysts emphasized that dormant whale transfers have not consistently preceded major corrections and highlighted regulatory progress in the crypto industry as a more significant driver of long-term trends [7]. Similarly, EmberCN noted that current liquidity conditions could absorb the remaining 12,000 BTC without a material market impact [8]. CryptoQuant founder Ki Young Ju observed a broader shift in market dynamics, noting that this cycle sees institutional buyers acquiring large whale assets rather than retail investors, which could dampen panic-driven selling [9].

However, skeptics like Jacob King, CEO of WhaleWire, argue the sale could "burst the biggest bubble in financial history," reflecting alarmist perspectives amid heightened volatility [10]. The weekend’s trading activity will be closely watched, as traders assess whether Bitcoin can defend key supports or succumb to further downward momentum.

Source:

[1] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[2] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[3] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[4] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[5] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[6] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[7] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[8] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[9] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)

[10] [Historic Bitcoin Whale Moves $1.1B to Exchanges, Stoking Selloff Fears] (https://coinmarketcap.com/community/articles/6883928c9e81db1a55ae4b85/)