The cryptocurrency market is shaking on July 25, 2025 : Galaxy Digital dumped 10,000 BTC, equivalent to $1.18 billion, within hours, alongside USDT withdrawals of $370 million. This orchestrated sell-off raises concerns about the intentions of major players. Let's delve into the backstage of this maneuver reshaping the Bitcoin landscape.
This Friday, July 25, 2025, the cryptocurrency market is in panic following recent Bitcoin-related movements from Galaxy Digital, a well-known entity in the blockchain ecosystem.
According to data shared on X by on-chain analysts like @lookonchain, Galaxy Digital has reportedly conducted a massive sale of 10,000 BTC, worth approximately $1.18 billion, over the past few hours.
This operation, accompanied by significant withdrawals of $370 million in USDT from platforms like OKX, Binance, and Bybit, raises questions about behind-the-scenes strategies and their impact on the Bitcoin price, which has dropped by more than 3% to $115,000 in eight hours.
Evidence points to a precisely orchestrated operation. @lookonchain’s post reveals that Galaxy Digital transferred these BTC to exchanges before converting part of its gains into USDT stablecoins, suggesting a calculated position exit rather than a rushed sale.
This maneuver occurs within a broader context: a “Bitcoin OG” – a historical holder of 80,009 BTC – transferred all of their holdings to Galaxy Digital over the past few days, likely via OTC transactions (over-the-counter) to avoid immediate volatility in public markets.
The objective seems clear : monetize a position accumulated since 2011, as BTC reached historical highs near $120,000.
An image shared by @coinphoton shows constant USDT flows to Galaxy Digital from hot wallets of Binance, OKX, and Bybit, totaling significant amounts (up to $30 million per transaction).
These movements indicate a rapid liquidation of digital assets into stablecoins, a common practice to secure profits or reallocate capital toward other opportunities, such as ETH. Indeed, Galaxy’s CEO has recently mentioned Ethereum multiple times as a future opportunity.
This sale has sent shockwaves through the market. @lookonchain’s post highlights a withdrawal of $370 million in USDT, suggesting that Galaxy might still hold approximately $810 million in BTC or USDT for potential future sales.
Comments on X range from alarmism to resilience : some, like @BasedGranpa, mention a rotation toward ETH, while @paper_value advises to “DCA and stay calm” (Dollar-Cost Averaging).
Others, like @Chencealpha, see it as a strategic extraction by “smart money,” leaving retail investors in panic.
But behind these transactions, a power dynamic emerges. Galaxy Digital, with its OTC expertise, acts as a key intermediary, facilitating the liquidation of significant BTC amounts without excessively disrupting the market.
However, the speed of USDT withdrawals and the concurrent drop in BTC price suggest coordination with other institutional players. This could be profit-taking after the recent price surge, or repositioning before a major macroeconomic event, such as a monetary policy announcement.
In conclusion, Galaxy Digital’s movements mark a turning point in Bitcoin’s current cycle. As the market digests this sale, investors are closely monitoring Galaxy’s next steps. One thing is certain : the crypto backstage continues to reveal influence games of alarming magnitude.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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