Bitcoin News Today: Galaxy Digital Transfers 3,782 BTC ($447M) to Exchanges, Bitcoin Dips 0.4% as Selling Speculated

Galaxy Digital’s recent movement of 3,782 Bitcoins, valued at $447 million, to crypto exchanges has reignited speculation about potential selling pressure in the Bitcoin market. The transfers, detected via on-chain analytics platforms, occurred over a 12-hour period and were largely directed toward major exchanges, sparking caution among traders. The largest single transaction involved 450 BTC, though Galaxy Digital has not publicly commented on the move. This follows a previous $9 billion BTC sale by the firm in early July, which briefly pushed Bitcoin below $116,000 before stabilizing near $118,000 [1].

Despite the institutional activity, Bitcoin’s price remains relatively stable, trading at $118,217 with a 0.4% decline over 24 hours. However, on-chain data suggests growing uncertainty. Long-term holders (LTHs) have turned net negative as Bitcoin approaches the $120,000 psychological level, indicating profit-taking by seasoned investors after extended holding periods [2]. A Cryptoquant analyst noted that Galaxy’s 80,000 BTC sale represents institutional-level profit realization, raising questions about whether other large holders might follow suit or if the move is a strategic cash-in after Bitcoin’s recent rally [3].

On-chain signals point to potential near-term volatility. The MVRV 365DMA metric, a historical indicator of market tops, mirrors patterns seen in 2021 ahead of a major price drop. If the trend repeats, a peak could occur in late August or early September. This aligns with expectations of broader macroeconomic shifts, including Federal Reserve policy developments. Additionally, Bitcoin’s closure of the CME futures gap for the sixth consecutive week has drawn attention, with analyst Ali forecasting a potential peak at $149,679 [4].

Market participants remain divided on the implications. While Bitcoin’s resilience post-sale suggests strong demand from institutional and retail buyers, the concentration of large holders liquidating at critical price levels underscores liquidity risks. Some analysts argue that institutional selling does not inherently signal bearish outcomes but highlights the complexities of balancing strategic reserves with market dynamics [5].

The broader crypto sector is adapting to these developments. Galaxy Digital’s role as a bridge between traditional finance and digital assets continues to influence market sentiment, though large sales often trigger mixed reactions. Firms managing corporate BTC holdings face scrutiny over their impact on price discovery and market fundamentals, as seen in the recent activity.

As on-chain data and institutional actions converge, investors are advised to monitor macroeconomic indicators alongside blockchain analytics. The coming weeks will be pivotal in determining whether this selling activity marks a temporary correction or a more sustained shift in Bitcoin’s institutional trajectory.

Sources:

[1] Coinpedia.org - https://coinpedia.org/news/is-galaxy-digital-selling-again-on-chain-signals-hint-at-a-bitcoin-turning-point/

[2] Mitrade - https://www.mitrade.com/insights/news/live-news/article-3-989641-20250727

[3] TradingView - https://www.tradingview.com/symbols/BTCUSD/ideas/?sort=recent

[4] Mitrade - https://www.mitrade.com/insights/news/live-news/article-3-992128-20250728

[5] 99Bitcoins - https://99bitcoins.com/analysis/bitcoin-treasury-risk/