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Bitcoin (BTC) has gone down by 2.2% in the past 24 hours and trading volumes have spiked by 33%, reaching nearly $100 billion, after a Satoshi-era wallet moved a significant number of tokens to an exchange.
Data from Lookonchain indicated that a whale who had stashed its BTC tokens since 2011 transferred 40,000 BTC to Galaxy Digital, a crypto asset management firm, just 7 days ago.
UPDATE: The Bitcoin OG with 80,009 $BTC($9.46B) has transferred 40,009 $BTC($4.68B) to #GalaxyDigital.
And #GalaxyDigital has directly deposited 6,000 $BTC($706M) into #Binance and #Bybit.https://t.co/8Z4m7CAQ0i https://t.co/4fpZhBM5uY pic.twitter.com/gdl6f8wSZw
— Lookonchain (@lookonchain) July 15, 2025
This wallet had been dormant for years but has now started to liquidate its holdings. In total, over the past 11 days, it has sent 80,000 BTC to Galaxy.
Analysts have pointed that this is an indication that market structure is shifting as veteran crypto wallets are now selling to new long-term holders who see the significant potential that blockchain technology still has to disrupt the financial industry.
Despite this latest pullback, BTC has still booked gains of 24.3% since the year started. Both institutional and mainstream adoption of the token as a financial asset has kept growing amid the launch of spot exchange-traded funds (ETFs) while the latest passing of the Genius Act in the United States could pave the way for a new bullish cycle.
BTC Price Action Shows Early Signs of a Recovery
The 4-hour chart shows that BTC recovered upon hitting the $115,000 level and could have pulled a liquidity after dropping below the area of support shown above.
If the price stays above that mark during the American session, this would favor a bullish short-term outlook for the top crypto as short sellers would be trapped and their positions would be used as gasoline for the next leg up. Trading volumes were quite high once BTC hit those levels.
Meanwhile, if the price resumes its downtrend, the next area of support to watch would be found at around $110,000. Such a move would provide a much more attractive entry for late buyers who expect that the uptrend will resume next week.
Bitcoin Hyper (HYPER) Will Set In Motion a New Era for BTCFi
As investors continue to embrace BTC as ‘digital gold’ the best crypto presales like Bitcoin Hyper (HYPER) could deliver huge gains. This project plans to launch a layer-2 chain that will foster a new era for Bitcoin’s DeFi ecosystem.
By leveraging the power of the Solana blockchain to reduce transaction fees and execute transfers rapidly, Hyper will unlock billions of dollars in dormant BTC that will flow to its DeFi ecosystem to earn yield, stake, and lend these assets.
The project has already raised nearly $5 million since its presale kicked off a month ago and you can buy this token at its discounted presale price while it last to reap the highest returns once the L2 is officially launched.
