Investment firm Galaxy Digital disclosed its successful execution of a substantial sale totaling 80,000 BTC originating from an early Bitcoin investor.
The market demonstrated exceptional resilience by absorbing the large transaction without triggering significant price disruption. Bitcoin saw a brief fluctuation below $115,000 during the settlement process but swiftly rebounded above $117,300.
Galaxy Digital emphasized that the sale was efficiently absorbed, underlining the stability and depth of the current market.
This resilience occurs amidst Bitcoin achieving new all-time highs exceeding $123,000 earlier this year. Market observers attribute the bullish sentiment largely to substantial inflows into spot Bitcoin ETFs and constructive shifts in US regulatory sentiment.
The smooth execution of such a large offloading event exemplifies the maturation of crypto market infrastructure and its capacity to accommodate significant institutional transactions.