Novogratz’s Galaxy Dumps BTC Again – Crypto Chaos Ensues! 😱

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In the restless digital frontier, where fortunes rise and fall like the tides of the Salinas River, a sharp-eyed analyst named Maartunn from CryptoQuant reckoned that Mike Novogratz’s Galaxy Digital had hauled out 2,500 bitcoins—about $296 million worth—and scattered them across various crypto exchanges. It’s like watching a old farmer unload his last bushel before the storm hits. 😏

This move could whip up more selling pressure on bitcoin, that stubborn pioneer of currencies, always dragging its heels through market mudslides. But hey, what’s a little more chaos in this rodeo? 🌪️

Right now, bitcoin’s swapping hands at $117,513, per CoinGecko’s tally. Prices jittering around like a jackrabbit on coffee—up one minute, down the next. What a thrill ride. 🎢

Galaxy’s recent 80,000 BTC sale

As the story goes, not long back, some ancient bitcoin wallets funneled 80,000 coins into Galaxy Digital’s keep, just like rustlers corralling cattle. Then, on July 25, Novogratz’s outfit started dumping thousands onto exchanges, and bitcoin took a nosedive faster than a dive off a dusty cliff. Outflows hit around 30,000 coins, stirring up a brief bearish brawl. 😠

Galaxy admitted to pulling off one mammoth transaction, selling those 80,000 coins through OTC channels—nice and controlled, so it didn’t kick off a full-blown panic. Smart move, or just dodging the bullet? Who knows in this game of high-stakes poker. 🎭

O.G. whales losing faith?

This hefty dump by one of bitcoin’s original hoarders got tongues wagging: have the old guard lost their grit now that Wall Street’s crashed the party? Some say it’s a betrayal of bitcoin’s roots in censorship resistance, but others shrug it off—Wall Street’s just another player in the sandbox, they claim. Bitwise’s Matt Hougan pipes up that bitcoin’s still “pretty revolutionary,” like a faded revolutionary waving a flag in a corporate parade. Ha, if you say so. 😜

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2025-07-28 21:52