Financial investment firm Galaxy Digital has announced the completion of one of the largest Bitcoin sales in history. The transaction involved the sale of over 80,000 BTC, worth more than $9 billion based on current market prices.
Completion of Bitcoin Sale
Galaxy Digital has finalized the sale of more than 80,000 Bitcoin for a Satoshi-era investor, which marks one of the largest transactions in the cryptocurrency market. "Galaxy completed the sale of more than 80,000 bitcoin – valued at over $9 billion based on current market prices – for a Satoshi-era investor, representing one of the earliest and most significant exits from the digital asset market. The transaction was part of the investor’s broader estate planning strategy," Galaxy Digital noted.
Impact on Bitcoin Market
The strategic exit of the Satoshi-era investor signals the entry of institutional capital into the Bitcoin market. The rising interest from institutional investors in BTC ETFs also enhances cash inflow into the Bitcoin market. The exit of early Bitcoin investors may indicate the beginning of the 2025 altseason, with observable demand for Ethereum and other altcoins.
Bitcoin Price Forecasts
Recently, Bitcoin's price exceeded $117,000 again, forming a bullish flag. From a technical standpoint, the price appears well-positioned for a rally toward a new all-time high in the near future. However, the midterm bullish outlook will be invalidated if Bitcoin’s price drops below the support level around $109,000.
The completion of the large Bitcoin sale by Galaxy Digital emphasizes the growing interest of institutional investors and its potential impact on the digital asset market. The current market situation appears favorable for further price increases of Bitcoin.
