Bitcoin (BTC) has stabilized near $117,000 after a brief overnight drop that saw the price dip below $115,000, triggered by a large-scale asset movement involving a long-dormant Satoshi-era wallet. The event was later confirmed to be part of a strategic estate liquidation coordinated by Galaxy, one of the top institutional crypto managers.
80,000 BTC Sold in One of the Largest Crypto Transactions Ever
According to confirmed reports, Galaxy completed the sale of 80,000 BTC on behalf of a private client, making it one of the largest notional transactions in Bitcoin history. The BTC originated from wallets inactive for more than a decade, likely belonging to early Bitcoin miners or investors.
The $9 billion transaction marks a historic moment in crypto finance, demonstrating the continued role of BTC in long-term wealth strategies like estate planning.
The client reportedly structured the sale through Galaxy to ensure institutional execution and minimal market disruption, although some short-term volatility did occur.
BTC Price Recovers as Selling Pressure Eases
Following the sale, Bitcoin rebounded swiftly, suggesting that market participants had already priced in the whale movement. As of Saturday, BTC is hovering around $117,200, recovering from the temporary shock and maintaining its two-week trading range.
“The local bottom may already be in,” said one senior investment executive, pointing to improving sentiment and wave-pattern recovery.
Technical analysts view the event as part of a broader corrective phase within an ongoing uptrend, with price targets for BTC still aiming above recent highs in the medium term.
Implications for Bitcoin’s Long-Term Bull Cycle
While large whale movements often trigger fear or doubt among retail investors, this transaction may signal increased maturity in the crypto market. Instead of crashing, Bitcoin absorbed the sale efficiently, underlining its growing liquidity and institutional resilience.
The fact that such a massive BTC liquidation did not cause a sustained sell-off is a bullish sign for long-term holders.
As on-chain metrics remain healthy and ETF inflows persist, analysts expect Bitcoin’s next upward leg to begin once consolidation ends, possibly as early as this weekend.
Conclusion: BTC Market Shows Strength After Whale Exit
With the $9B whale sale completed, the Bitcoin market appears to have weathered the storm, confirming the strength of its current support levels. Traders and institutions are now watching closely for the next breakout signal as bullish momentum rebuilds.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.