With this price action I'm guessing this was an OTC sell. Galaxy would hedge immediately upon receipt, with fresh shorts. In the medium-to-short term (however long it takes to clear their stack), I'm expecting multiple ‘asks’, creating a perception of weakness, until the load is clear (circa. Germany 🇩🇪 ). While this may give a chance for $ETH/BTC to breathe, it doesn’t necessarily mean ETH will go up in USD terms. —hard to know what this means for the market ahead. but who knows, U.S. data might shock us.
The Bitcoin OG who previously transferred 80,009 $BTC($9.68B) out after 14+ years of dormancy is moving $BTC again. So far, he has transferred 20,009 $BTC($2.42B) from two of his wallets to a new wallet "bc1qmu".
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