In a stunning but surprisingly calm event, a Bitcoin wallet dormant for over 14 years moved around 80,000 BTC—worth about $9.6 billion—to Galaxy Digital. This wallet dates back to the early days of Bitcoin, with coins acquired in 2011. Despite the size of the transaction and its historical significance, the price of Bitcoin barely flinched, dipping slightly before recovering above $119,000. The market’s resilience in the face of such a massive sell-off surprised even seasoned analysts.
The timing of this move wasn’t lost on observers. It coincided with the passage of the GENIUS Act in the U.S., a new law introducing stricter audit standards for stablecoins. While some voices, like WhaleWire’s CEO, warned it could trigger a market correction, others saw it as a step toward clarity. The regulatory pressure might have nudged the whale to act, but the overall tone from institutions was calm and calculated. Galaxy Digital’s handling of the distribution, spreading the coins across major exchanges like Binance, Coinbase, and OKX, ensured minimal market disruption.
Analysts believe this is part of a broader institutional reallocation strategy rather than panic-driven selling. Only a fraction of the total amount has been sold so far, with the rest likely moving through over-the-counter channels to avoid sudden liquidity shocks. This careful strategy underscores the shift from volatile retail behavior toward structured, long-term positioning by large players. With institutions at the helm, the crypto market is showing signs of a new kind of stability.
This episode marks a turning point in how whale movements affect the market. In earlier years, such a dump might have caused widespread panic. Now, the response is almost indifferent. Experts suggest that Bitcoin’s growing maturity, combined with deep liquidity and a more professional investor base, has changed the game. This shift doesn’t eliminate volatility, but it does suggest that Bitcoin is slowly becoming a more predictable asset in an unpredictable world.
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