Bitcoin Dips Under $116,000 As Galaxy Sends Coins Worth $1.5 Billion to Exchanges – Crypto News – Crypto News
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Bitcoin Dips Under $116,000 As Galaxy Sends Coins Worth $1.5 Billion to Exchanges Bitcoin Dips Under $116,000 As Galaxy Sends Coins Worth $1.5 Billion to Exchanges

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Bitcoin Dips Under $116,000 As Galaxy Sends Coins Worth $1.5 Billion to Exchanges – Crypto News

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The total crypto market capitalization has decreased by nearly 5% over the past 24 hours.

Crypto markets are poised to close the week in the red as significant Bitcoin sales weigh on investor sentiment.

Trading firm Galaxy Digital has transferred nearly 13,000 BTC to centralized exchanges over the past day, worth nearly $1.5 billion at current prices. According to blockchain analyst Lookonchain, the firm has withdrawn $370 million in USDT stablecoins from Binance, Bybit and OKX so far, indicating that at least some of the coins were sold.

The transfers come a week after the firm received more than 40,000 BTC ($4.6 billion) from the 2011-era Bitcoin whale that originally held over 80,000 BTC and made headlines in early July when they first started moving their long-dormant stash after 14 years.

Bitcoin slipped to $115,200, a 3% decline over the past 24 hours, while ETH and XRP gained less than 1% during the same period. Meanwhile, SOL dropped 3.3% to $177.

The overall crypto market capitalization decreased by 4.7% to $3.84 trillion, according to Coingecko.

Most of the Top 100 digital assets posted losses, except for a few outliers, including Ethena (ENA), Cronos (CRO), and Curve (CRV), which are up 13%, 5.3%, and 4.7%, respectively.

PENGU, FARTCOIN and Stacks (STX) are today’s biggest losers, down around 5%.

Around 143,000 leveraged traders were liquidated for a total of $528 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $155 million, while ETH made up $126 million.

On the ETF front, Ethereum funds pulled in another $231 million on July 24, marking their 15th consecutive day of inflows, according to SoSoValue. Meanwhile, Bitcoin ETFs ended a three-day losing streak with $226 million in inflows.

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