According to recent blockchain data that Arkham Intelligence has identified, Galaxy Digital may be getting ready to sell up to $450 million worth of Bitcoin, but the cryptocurrency is still holding strong. The market has mostly ignored the possible sale, staying steady above $63,000, which suggests that traders are growing more tolerant of institutional activity.
Wallets associated with Galaxy transferred roughly 7,000 BTC to known exchange addresses, according to Arkham’s tracking. Analysts and traders pointed out that Bitcoin’s price action stayed stable, indicating either strong underlying demand or that the sale may have already been priced in, even though this usually signals a possible selloff.
Is the market misguided or mature?
Instead of a complete market dump, some analysts think this might be an internal transfer or strategic rebalancing. Large digital asset positions for funds, ETFs, and treasury operations have been managed by Galaxy Digital, which is led by Mike Novogratz. Regarding the transaction, the company has not released a formal statement.
The calm reaction, according to analysts, is indicative of a maturing market where big institutional moves no longer cause panic. Such headlines might have caused double-digit declines in previous cycles. The market now seems to be protected from single-entity shocks by the existence of spot ETFs, enhanced liquidity, and diversified investor bases.
Bitcoin is still trading in a narrow range, and traders are keeping an eye on $65,000 as the next significant resistance level. On-chain metrics reveal that long-term holders are mostly unaffected by whale activity, and funding rates are stable, suggesting that market confidence is still strong.
Short-term volatility could result from Galaxy making a big sale, but this week’s response indicates that Bitcoin’s foundation is stronger than ever.
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