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BTC

Galaxy Digital's Large BTC Dump Suppresses Bitcoin Price Recovery

Seven hours ago, Galaxy Digital OTC began transferring and dumping BTC onto exchanges. At the time, BTC was valued at $117,700, and during the Asian session when liquidity was lowest, a significant transfer of 80,000 BTC from a Chinese trader was observed. A total of 26,309 BTC were sent. Simultaneously, Galaxy transferred stablecoins from Binance, Bybit, OKX, and Bitstamp wallets. This pressure allowed Galaxy to push the BTC price up to $114,850. The price is currently recovering, with Ethereum showing better resilience due to inflows. Galaxy still holds 18,504 BTC worth $2.14 billion in reserve.
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AI Analysis

The recent activity by Galaxy Digital indicates significant market influence through their large BTC transfers, totaling over 26,000 coins. By moving a considerable amount of BTC onto exchanges during...

AI Recommendation

Given the recent large-scale BTC transfers by Galaxy Digital aimed at suppressing prices temporarily, investors should exercise caution. While the market is showing resilience, the presence of signifi...

Disclaimer

The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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