Bitcoin Whale Moves 80,000 BTC — Is A $9 Billion Dump Coming?

Zinger Key PointsA Bitcoin whale holding 80,009 BTC has offloaded half his holdings to Galaxy Digital, which then moved significant amounts to Binance and ByTraders see the $112,000 level as a better risk-reward entry, while others highlight increased sell pressure from the whale’s moves.PPI and Industrial Production drop Wednesday morning — see how Matt Maley is trading the reaction, live at 6 PM ET.BitcoinBTC/USDhas retraced 3% and fallen below $118,000, with a ‘whale’ identified as the potential seller triggeringthe price downturn.What Happened:On-chain data provder Lookonchainflaggedon Tuesday that a whale owning 80,009 BTC, valued at about $9.46 billion, has started liquidating his position.So far, 40,009 BTC was transferred to Galaxy Digital. Galaxy Digital has already deposited 6,000 BTC — $706 million — to exchanges Binance and Bybit, signaling active distribution.The news drew strong attention on social media.Market commentator Nuke Capitalnotedhow this move came near range lows and coincided with the CPI data release day.He called it a psychological play and wished the bears "good luck," as the selling might add downward pressure.Also Read:Why Did Bitcoin, Ethereum, XRP, Dogecoin Flip Bearish Ahead Of The CPI Inflation Data Release?What's Next:TheDefiVillianpointedout the whale is only halfway through selling.Historically, once large sell-offs near completion, markets often start to anticipate the end of selling pressure, triggering sharp rebounds.This "whale dump" might be the perfect re-entry opportunity for market participants that want to get long on Bitcoin, he concluded.Daan Crypto TradesnotedBitcoin is currently at a critical support zone near $118,000, with more than $3 billion in open interest above this level, much of it likely underwater longs.The recent price weakness is largely due to the whale offloading part of his 80,000 BTC stack through OTC and exchanges, causing significant spot selling pressure.This has pushed funding rates higher as leveraged longs try to counterbalance the selling.If prices fall further, a liquidation cascade could follow.But if the whale's selling slows, it may signal the end of the shakeout and pave the way for a strong recovery.Loading...Loading...Read Next:Bitcoin, ETH, XRP, Solana Are In For A ‘Long And Exhausting Bull Market,’ Bernstein PredictsImage: Shutterstock$BTCBitcoin$117654.52-1.84%Stock Score Locked: Want to See it?Benzinga Rankings give you vital metrics on any stock – anytime.Reveal Full ScoreEdge RankingsMomentum94.50Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. . .Posted In:CryptocurrencyNewsTop Stories