In July 2025, the cryptocurrency market experienced a turbulence. A series of large-scale Bit transfer events attracted the market's attention and caused fluctuations, with Galaxy Digital becoming the focus.

On July 15, an account known as "Ancient Giant Whale" transferred an astonishing amount of Bit to Galaxy Digital's over-the-counter platform, with more than 40,000 coins moved in a single day, worth over $4.6 billion. This action immediately triggered a market reaction, with the price of Bit dropping more than 5% from the previous day's high.

However, compared to the severe volatility caused by the German government's sale of Bit in 2024, the market response this time was relatively calm. Nevertheless, this incident still had a significant impact on the market. The price of Bit fell about 3% from $119,000, breaking below the 7-day moving average and the 23.6% Fibonacci support level. At the same time, this sell-off triggered approximately $646 million in liquidations, putting pressure on the market's short-term liquidity.

On-chain data shows that within just 50 minutes, 5,153 Bitcoins (worth approximately $596 million) were transferred, triggering a series of chain reactions. Market analysts noted that another 2,850 Bitcoins were subsequently transferred again, while Galaxy Digital currently still holds 21,255 Bitcoins.

It is worth noting that Galaxy Digital did not stop there. According to monitoring by on-chain analysis platform Lookonchain, within the following 8 hours, Galaxy Digital transferred over 10,000 Bitcoins to various centralized exchanges. Another on-chain analyst observed that 14,273 Bitcoins, suspected to belong to a "whale holding Bitcoin for 14 years," were also transferred in batches to various exchanges by Galaxy Digital on July 25, with a total value of approximately $1.67 billion.

These ongoing large-scale transfer activities have raised market concerns about further sell-offs, significantly affecting market sentiment. Analysts point out that this could lead to more volatility in Bitcoin prices in the short term.

As this series of events unfolds, cryptocurrency market participants are closely monitoring subsequent developments to assess their potential impact on the overall market trend. This incident once again highlights the high sensitivity and volatility of the cryptocurrency market, and reminds investors to remain vigilant and stay updated on market dynamics.